Yeah, shen is UP right now. He just cannot effect the outcome of games like he used to be able to.
Aparently there is a global ult rework in the next couple patches- perhaps this means they'll be looking at Shen.
Personally, I'd like to see Vorpal buffed so that it actually heals a noticable amount and deals more damage that it's current sneeze-worthy form, maybe add an effect when a minion or enemy dies while lifetapped. Feint should have energy returned if not broken, and possibly be able to effect an ally as well (like almost every other shield out there- looking at you Jarvan in particular), Dash should deal some damage and taunt for longer at low levels, and I'd like to see it Shield an Ally if you dash thru an ally, and the ult should have a channeling time dependent upon how far away the ally is. I'd like to see his passive activate on an ally getting hit as well. I think some combination of these things would make him a bit more viable at high elo, where his ult isn't as useful (because his ult is mainly good for rescuing an opponent who's made a mistake, and mistakes happen less frequently at higher levels of play).
Additionally, in the current meta, his jungle needs to be viable, or he needs to be able to support better. One of the two.