^Yes that is correct. The thread at afterdawn that I linked explains that, though not with absolute clarity.
I’m not sure who was responsible for revising the burning engine, but it came several years after the author of DVDShrink abandoned work on it…had to have, since DVDDecrypter lasted much longer than Shrink, and LUK didn’t start work on ImgBurn until after he was forced to stop development of DVDDecrypter.
The last time the author talked about DVDShrink was May of 2008, when he asked for input on bugs found in the program, since he was working on a similar project. He confirmed that no new version would be released. http://forum.doom9.org/showthread.php?t=137425