New guide maximizing the almost unlimited possiblities of the most elusive tank that everyone in the game writes off as "not ranked material."
I sort of condensed everything in just a few chapters because I'm short on time to do a full guide with extensive details.

AD Marks. Why not health? Because you need the extra dmg level 1-5 in jungle and it actually makes you a viable ganker with killing power.

AS Seals. Dodge is gone and for Shen this is the next best thing especially in the jungle.
It means you heal faster off Vorporal Blade and you can actually sustain in the jungle at level 1 without a single health pot if you want to grab a Dorans Shield initally or something else sneaky.

MR Glyphs. Gives a great amount of MR and with these and Merc Treads you can usually get away without getting anymore MR the rest of the game till level 17-18 on a final build.

Armor Quitns. These are amazing for early on sustain and ganks. This can also, if you choose, take the place of buying a cloth armor if you again want to get something sneaky and unique instead of the usual.

Even though Shen now heavily scales off health I've found these to be much more valuable early game when you really need the little things to help you.

The obvious defensive Masteries.
I put a point in summoners insight because that extra 1 sec off your teleport is pretty much priceless when you're ult is down and you need to get somewhere quickly to save a teamate or help taunt and get them the kill. I can't even count the times this has turned a 1v2 sure death for a teamate into a double kill for them. TP in, taunt, vorporal and that healing they get can mean the difference between an instant death and a kill + escape.

I start with the standard armor and 2 pots and add a ward.
By the time you finish golems as your last round of jungling you'll still be at almost full health and if there's no gank available at that point just drop the ward for them and as you go back to jungle the other side you can quickly TP back.
Next I pkup boots of speed unless i had successful gank then I can afford boots and madrids. Upgrade immediately into merc treads for more speed.
If you can afford Giants Belt on your next back then get it, otherwise Heart of Gold flows nicely and by this time you're plowing through the jungle and can gank on command with 2 teleports and some speed available at your disposal.
At this point you have a choice: $1900 for Aegis or $1890 for Warmogs. Both are amazing items so if you feel you're taking a little too much AP blast damage still take the Aegis otherwise roll straight into the Warmogs and farm it up.
If you chose Warmogs then grab a Negetron and a Sheen next, if not finish the warmogs and add some more wards and utility.

Why Sheen? Because nobody is scared of a tiny tank that does no damage. Now that Shens damage scales off his health this item is devastating because everytime you use Vorporal Blade your next attack does 200% damage. If your Ki strike happens to be up this deals an incredible blow that will shock your opponents, couple that with the natural life steal and you've got an end game monster on your hands.

End the build with a finaly substantial item, whether it be Banshees or Sunfire Cape or Thornmail. Choose the item for whatever you're feeling in game, Thorn if a trynd is picking you apart, banshees if they're AP heavy or Sunfire in most other circumstances to boost your armor and give you more health for damage scaling.

Smite and Teleport are an absolute must. I've tried every other alternative but unless you're in lane where flash or ignire come in more handy, when jungling you can seriously be anywhere on the map in less than 1.5 secs. You can Ulti bot and save a teamate then TP to a ward or minion top to help secure a gank kill for your teamates or protect a tower from someon who thinks they can push it once they see you on bottom lane and possibly pickup a kill with your taunt at the tower. This combination of things gets you so much gold that you can sometimes be at full build by level 16.
You can also counter jungle and if you get caught in a situation or want to just steal their blue or red or dragon you're able to TP out after they use they're cc ability, or you can taunt then tp\ult and you'll make it out before they're out of the taunt. Hilarious in game antics like this are what make the game so much fun for me to play.

Start at blue and go straight down the line all the way to Golems. At that point gank the lane or plant a ward to tp gank later and continue junlging.
The most important thing to remember is to STAY ACTIVE. You don't need to "wait around" for 30secs to get that perfect gank because you have TP, you can gank literally anytime you want.
Keep jungling, grab a few creeps on your way out of a gank just stay active! This will keep you at the same level of any solo lane and at a great amount of gold especially if you opted for a heart of gold early on.

Hopefully you have as much fun as I do with the new Shen!
He's been by far my favorite champ since I started playing this game and with the new patch he's actually a very viable champion and you don't have to be a Shen expert to utilize him properly now.
You will notice him being banned in ranked queues more than Tryndamere or Lee Sin which I think shows how fearsome he has become with his newfound scaling.

Thanks to Riot for giving him just a tiny buff to make him once again what a Ninja should be....Feared!