Same issue with my test site too.
Here are the erros from the php error log:
24-Mar-2013 11:44:50] PHP Warning: include(shortcodes/shortcode-init.php) [<a href='function.include'>function.include</a>]: failed to open stream: No such file or directory in <site root directory>/wp-content/plugins/woocommerce/woocommerce.php on line 238
[24-Mar-2013 11:44:50] PHP Warning: include() [<a href='function.include'>function.include</a>]: Failed opening 'shortcodes/shortcode-init.php' for inclusion (include_path='.:/Applications/MAMP/bin/php5.2/lib/php') in <site root directory>/wp-content/plugins/woocommerce/woocommerce.php on line 238
[24-Mar-2013 11:44:50] PHP Warning: include(widgets/widget-init.php) [<a href='function.include'>function.include</a>]: failed to open stream: No such file or directory in <site root directory>/wp-content/plugins/woocommerce/woocommerce.php on line 171
[24-Mar-2013 11:44:50] PHP Warning: include() [<a href='function.include'>function.include</a>]: Failed opening 'widgets/widget-init.php' for inclusion (include_path='.:/Applications/MAMP/bin/php5.2/lib/php') in <site root directory>/wp-content/plugins/woocommerce/woocommerce.php on line 171
[24-Mar-2013 11:44:50] PHP Warning: include(classes/class-wc-product.php) [<a href='function.include'>function.include</a>]: failed to open stream: No such file or directory in <site root directory>/wp-content/plugins/woocommerce/woocommerce.php on line 174
[24-Mar-2013 11:44:50] PHP Warning: include() [<a href='function.include'>function.include</a>]: Failed opening 'classes/class-wc-product.php' for inclusion (include_path='.:/Applications/MAMP/bin/php5.2/lib/php') in <site root directory>/wp-content/plugins/woocommerce/woocommerce.php on line 174
[24-Mar-2013 11:44:50] PHP Fatal error: Class 'WC_Product' not found in <site root directory>/wp-content/plugins/woocommerce/classes/class-wc-product-variation.php on line 16
My issue was I have a custom shipping rate class that extends WC_Shipping_Method. When I didn’t load this the site loaded. I’m not sure the root of the problem but will have to take a closer look.
