Here is a utilily class that allows you to have only the security property sheet (not all sheets the shell displays).

You can call it like this in a console app:

class Program
{
    [STAThread]
    static void Main(string[] args)
    {
        // NOTE: if the dialog looks old fashioned (for example if used in a console app),
        // then add an app.manifest and uncomment the dependency section about Microsoft.Windows.Common-Controls
        PermissionDialog.Show(IntPtr.Zero, @"d:\temp\killroy_was_here.png");
    }
}

or like this in a winform app

public partial class Form1 : Form
{
    public Form1()
    {
        InitializeComponent();
    }

    private void button1_Click(object sender, EventArgs e)
    {
        PermissionDialog.Show(IntPtr.Zero, @"d:\temp\killroy_was_here.png");
    }
}

And this is the main class. It's basically using the same thing as the shell, but in its own property sheet.

public static class PermissionDialog
{
    public static bool Show(IntPtr hwndParent, string path)
    {
        if (path == null)
            throw new ArgumentNullException("path");

        SafePidlHandle folderPidl;
        int hr;
        hr = SHILCreateFromPath(Path.GetDirectoryName(path), out folderPidl, IntPtr.Zero);
        if (hr != 0)
            throw new Win32Exception(hr);

        SafePidlHandle filePidl;
        hr = SHILCreateFromPath(path, out filePidl, IntPtr.Zero);
        if (hr != 0)
            throw new Win32Exception(hr);

        IntPtr file = ILFindLastID(filePidl);

        System.Runtime.InteropServices.ComTypes.IDataObject ido;
        hr = SHCreateDataObject(folderPidl, 1, new IntPtr[] { file }, null, typeof(System.Runtime.InteropServices.ComTypes.IDataObject).GUID, out ido);
        if (hr != 0)
            throw new Win32Exception(hr);

        // if you get a 'no such interface' error here, make sure the running thread is STA
        IShellExtInit sei = (IShellExtInit)new SecPropSheetExt();
        sei.Initialize(IntPtr.Zero, ido, IntPtr.Zero);

        IShellPropSheetExt spse = (IShellPropSheetExt)sei;
        IntPtr securityPage = IntPtr.Zero;
        spse.AddPages((p, lp) =>
        {
            securityPage = p;
            return true;
        }, IntPtr.Zero);

        PROPSHEETHEADER psh = new PROPSHEETHEADER();
        psh.dwSize = Marshal.SizeOf(psh);
        psh.hwndParent = hwndParent;
        psh.nPages = 1;
        psh.phpage = Marshal.AllocHGlobal(IntPtr.Size);
        Marshal.WriteIntPtr(psh.phpage, securityPage);

        // TODO: adjust title & icon here, also check out the available flags
        psh.pszCaption = "Permissions for '" + path + "'";

        IntPtr res;
        try
        {
            res = PropertySheet(ref psh);
        }
        finally
        {
            Marshal.FreeHGlobal(psh.phpage);
        }
        return res == IntPtr.Zero;
    }

    private class SafePidlHandle : SafeHandle
    {
        public SafePidlHandle()
            : base(IntPtr.Zero, true)
        {
        }

        public override bool IsInvalid
        {
            get { return handle == IntPtr.Zero; }
        }

        protected override bool ReleaseHandle()
        {
            if (IsInvalid)
                return false;

            Marshal.FreeCoTaskMem(handle);
            return true;
        }
    }

    [StructLayout(LayoutKind.Sequential, CharSet = CharSet.Unicode)]
    private struct PROPSHEETHEADER
    {
        public int dwSize;
        public int dwFlags;
        public IntPtr hwndParent;
        public IntPtr hInstance;
        public IntPtr hIcon;
        public string pszCaption;
        public int nPages;
        public IntPtr nStartPage;
        public IntPtr phpage;
        public IntPtr pfnCallback;
    }

    [DllImport("shell32.dll")]
    private static extern IntPtr ILFindLastID(SafePidlHandle pidl);

    [DllImport("shell32.dll", CharSet = CharSet.Unicode)]
    private static extern int SHILCreateFromPath(string pszPath, out SafePidlHandle ppidl, IntPtr rgflnOut);

    [DllImport("shell32.dll")]
    private static extern int SHCreateDataObject(SafePidlHandle pidlFolder, int cidl, IntPtr[] apidl, System.Runtime.InteropServices.ComTypes.IDataObject pdtInner, [MarshalAs(UnmanagedType.LPStruct)] Guid riid, out System.Runtime.InteropServices.ComTypes.IDataObject ppv);

    [DllImport("comctl32.dll", CharSet = CharSet.Unicode)]
    private static extern IntPtr PropertySheet(ref PROPSHEETHEADER lppsph);

    private delegate bool AddPropSheetPage(IntPtr page, IntPtr lParam);

    [ComImport]
    [Guid("1f2e5c40-9550-11ce-99d2-00aa006e086c")] // this GUID points to the property sheet handler for permissions
    private class SecPropSheetExt
    {
    }

    [InterfaceType(ComInterfaceType.InterfaceIsIUnknown)]
    [Guid("000214E8-0000-0000-C000-000000000046")]
    private interface IShellExtInit
    {
        void Initialize(IntPtr pidlFolder, System.Runtime.InteropServices.ComTypes.IDataObject pdtobj, IntPtr hkeyProgID);
    }

    [InterfaceType(ComInterfaceType.InterfaceIsIUnknown)]
    [Guid("000214E9-0000-0000-C000-000000000046")]
    private interface IShellPropSheetExt
    {
        void AddPages([MarshalAs(UnmanagedType.FunctionPtr)] AddPropSheetPage pfnAddPage, IntPtr lParam);
        void ReplacePage(); // not fully defined, we don't use it 
    }
}