Err.
What I want is a way to write some binary data (char) to another exe.
Then when the exe starts, it reads the data.
Any number of ways; for example a shared file, command line arguments, or one of a number of forms of inter-process communication (http://msdn2.microsoft.com/en-us/library/aa365574.aspx) .
One thing is for sure no one who has responded so far (including myself) has much of an idea of what a PropertyBag is or does, and your description seems to bear little resemblance to any other, but it seems that it might be amongst the least attractive ways of achieving your aim.
Either way, it is generally better to simply ask directly how to achieve some goal, than to ask how to implement a solution you have already decided upon, without telling us the goal. It gives far more scope for a better answer.
Clifford