I don't know about Shad & Dead Red. But Dave uses Dead Red & soaks either fresh chicken breast, fresh turkey breas, or Bar S wieners in Dead Red and hauls in Blues on jugs from dinks to small to medium to Big. I have not ask him, but I assume he cuts in chunks before marinating. Someone recently noted they Cajun inject it (with your preference, like a turkey), then cutting into pieces. I have two bottles of Dead Red set aside for future experiments.
Nowadays, wieners have chicken & pork. The beef ones are higher cost. Dave said he uses the cheaper ones (Bar S brand). Dave has also been using my "Lynn's Catfish Calendar" for over 5 years now as to when he sets them out, mostly targeting the BC days. Dave also uses one of my tips referred to as Bleedover.
In his recent post back in November 2016, titled "Meat Haul", he set jugs out on a ZIP night (Nov. 10th) preceding a BC day & came back the next morning (Nov. 11th) to rake in the haul & pull the jugs. He had out 20 jugs with 2 hooks each. He used chicken breast soaked in Dead Red spray. Out of a possible 40 fish max run, he had 32 on his jugs. Thats over a .750 batting average as to hits & holds. However, 4 got off before he got them in the boat. He released the Big Blue (biggest). And released 6 smaller ones. He did not say if they were under size or not. He kept 21, just over half of the possible haul. He gave up or lost 11 Cats. So, that's over a 50% keepers (brought home) of his possible max.
I discuss Bleedover in the month of January in my 2017 printed "Hard Copy" wirebound edition of the Calendar (just released). The month of December features Dave's "Meat Haul" with the story & pics (my term *stics*), with a few items not shared in his post. Others are featured *stics* from April thru November. Some of those feature water body records with their certificates (October) to first big Cat catches (August). And 1 really big Gator Gar catch (June). And the current Lake Limestone record Blue (September). And February & March have more special tips on the Calendar, such as KEYS & Percentages (Feb) and Roam-Feed Circuit & Baits.
Here is the post by Dave back on November 14th, 2016 ...
I would say, try it out on the shad & see if you do any good.