I attempted to use this plugin to insert various Adsense codes in my blog. Some ads showed up, others did not. I checked the source code in each case. Where the ads displayed, the Adsense code appeared in the source. Where the ads did not display, there was no code at all between the Shortcoder tags.
I am not sure whether this is a bug in Shortcoder or a compatibility issue, but I was able to find another shortcode plugin that works properly.
Bottom line: go ahead and try this plugin. It is very intuitive and simple to use. But be aware that there may be an issue with your shortcodes actually working, so test thoroughly.