A shunt regulator shunts excess voltage to ground. No ground, no shunt, no regulation. With Ohm's law, resistance to ground increases, current flow (regulation) decreases. Go undo the ground to your shunt RR, I'll bet the charging voltage goes way up.
Unless the RR is also grounded through the case, in which case forget what I said.
As you increase resistance between the r/r and battery the current flowing from the r/r to the battery causes voltage drops which lower the teminal voltage of the battery below that of r/r (+). Likewise with the return burrs t from the negative side of the battery going back to R/r(-) the is also a voltage drop. Making the battery ground always higher than R/r(-). So no matter how much resistance to get the battery can't over charge. Now if you remove the battery or make the resistance so high at some point the r/r will possibly run up in voltage trying to pass some current but I suspect that is device dependent.
Unless you have a single scr regulator or the mid installed Honda, under all conditions of moderate inline resistance the r/r should not over charge.
If you draw a simple diagram of r/r battery and series resistance this wi be clear once you figure out that all current returns to r/r(-) and not ground.