It is used in Windows XP HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\ComDlg32\LastVisitedMRU, and the format of each element looks like ExeFilename + Path with both zeros and in UTF-16LE format. The MRU list is stored as a string with a name MRUList.

Newer versions of Windows use HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\ComDlg32\LastVisitedPidlMRUboth HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\ComDlg32\LastVisitedPidlMRULegacy, and the format looks like ExeFilename + ItemIdList (ExeFilename in UTF-16LE and null terminated). The MRU list is represented by a list of DWORDs in a binary value with the name MRUListEx, and the list ends with 0xffffffff.
, Vista, , IFileDialog. LastVisitedPidlMRULegacy, , , GetOpen/SaveFileName / hook.