So recently I had to deal with some Cold Fusion code and since I had no tools (and no desire to install Eclipse, Abode etc. products just so I can get the syntax of CF looking colorful) I decided to get VS 2012 work with an external tool which had the CF syntax highlighting etc.
In this article I will try to go over how I did that and hopefully that would be helpful to someone else …
Step 1: Install your external editor
Step 2: Go to Visual Studio 2012 Tools / External Tools...
Step 3: Click Add
Step 4: Provide your title, in the command line select the executable of your editor (in my case Sublime Text).
In the arguments select $(ItemPath) and in the Initial directory $(ItemDir)
Step 5: Move it to the top of the list (it matters as we will explain later why)
Step 6: Click Apply

Ok so what we have done so far is to have our external editor in the Tools menu in VS2012:

Now let’s add it to the file context menu so we get this:

Step 7: Right click on the VS 2012 Menu (the one with FILE, EDIT etc)
Step 8: In the context menu shown select last item “Customize…”
Step 9: Click on the “Commands” tab
Step 10: Select the “Context menu:” radio button
Step 11: From the combo box find the “Project and Solution Context Menus | Item”

Step 12: Click on the “Add Command…” button
Step 13: From the popup dialog select the “Tools” item in the Categories List
Step 14: From the Commands list select “External Command 1” (This is why we moved the editor to top position.
You have to match its position in the Step 5 to the ExternalCommand X item)
Step 15: Click “OK” button – this will close the “Add Command” dialog. (Do not close the Customize dialog!)
Step 16: Click on the “Keyboard…” button now.
Step 17: From the quite small list in the middle of the dialog find “Tools.ExternalCommand1” as shown:

Step 18: Set your shortcut in the “Press shortcut keys” text box. Note: if the shortcut is already used VS will show you which command is currently using your key combo in the “Shortcut currently used by” combo box.
Step 19: After you have selected your shortcut you should be good to go now.
Hope this helps.
This is pure genius!!! Thank you for being SO CLEAR in the steps required–great job!