By way of correction, we are not using Shockwave to record podcasts. We are embedding a Flash MP3 player object in the post to play the audio, but the recording is done using a telephone connection or by uploading locally recorded MP3s. We are using the open source Musicplayer at the moment, but are developing our own player that is more tuned to playing single MP3s from a blog post.
The Neef Law Library blog at Wayne State University is using Shockwave audio files to record blog content.
Classcaster features an Asterisk PBX on the backend that allows us to record phone calls and then generate a blog post containing the MP3 recording of the call. Blogging services are provided through a modified version of pLog. Taken together these tools allow Classcaster to be a full featured blogging and podcasting platform.