Honestly, for shyvana...or any jungle really, you should go boots 3. You don't need the armor because you should have armor seals, MR per level glyphs, AS marks and MS quints or AS quints...or damage ones if you want. I usually go with AS because i like to twin bite more. Anyway, you should build wriggles then phage for mallet, merc treads (zerk greaves on shy, really?) wits end, finish mallet, warmogs, atmas, and a bt or something damagy if you want. Sell your wriggles if the game goes that long...but it won't...usually.
As for masteries, go 9-21-0 if you want defensive. If you feel really aggressive, go 21-9-0. you can jungle with either.