Shouldn't number 1 be:
C:\Usr\Proj\ThreadSearch\.bin\Debug\
That's not all, there is something wrong with these variables.
- Create two new console projects (test 1 and test2) in a workspace
- add "cmd /c $(TARGET_OUTPUT_FILE)" to both in pre-build steps
- activate first project
- try "build workspace"
For both projects you will see "./test1".

It seems to me, that the variable expansion works only for the currently activatet project.