LOL... Sorry for the confusion here.
No, the shortcode is not showing up in the RSS feed, only the link to the .FLV file itself.
The shortcode is executing on the site and the player works just fine on the site. I am not referring to what is happening on the site at all. All is fine there.
My only concern is that the .FLV file link is being shown in the RSS feed and I want it to remain hidden somehow.
Someone here says it is not possible:
I really need this link to be hidden in the RSS feed, otherwise I have to find another solution (any suggestions?)...