ActiveX exe mystery?

Is it possible to make an ActiveX exe that can be run in the same way as a standard exe (i.e. double clicking on an icon). I'm currently changing a normal program into an ActiveX one so that other programs can call it etc.. However I want to be able to run the program like a normal one if I so wish.

I know Excel runs normally and can be used as an ActiveX component as well, but once you set the component type to Active X rather than Standalone other programs can not obtain a reference to it again.

Any answers???