I know I've had problems with this shortcode before, but I just noticed that it's broken again. I've tried it inside a paragraph, not inside a paragraph (the paragraph HTML just gets added back in), inside a DIV, with double-brackets (how it used to work), and with single brackets. No matter what, the shortcode text appears on my site, not the calendar.
Case in point:
I haven't been paying close enough attention to this page to know what version of WP Events Calendar or what version of WordPress broke this. Last time I looked at it, it was working (and blank, since I rarely get sent any events to add), but that was months ago.