My nshield.log file is full of entries also.
I just did a test, I enabled the Network Shield then attempted to access my cable modem, then I stopped the shield and here's the entries between starting and stopping the shield.
INFO: Call Start method to the DLL
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25434 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25439 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25439 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25443 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25443 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x2544c IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x2544c IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25456 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25456 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::InjectGracefulClose: For stream SEND_PUSH: Id: 0x2543b (Cn:0x0) [0x0B3C8DD8] sz: 0, f:3 failed, code 0x80070057
AswNsfCompletionPort::InjectGracefulClose: For stream SEND_PUSH: Id: 0x25458 (Cn:0x0) [0x12225008] sz: 0, f:3 failed, code 0x80070490
AswNsfCompletionPort::InjectGracefulClose: For stream SEND_PUSH: Id: 0x2545a (Cn:0x0) [0x0B3C8DD8] sz: 0, f:3 failed, code 0x80070490
AswNsfCompletionPort::GetConnectionInfo: for id: 0x2546a IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x2546a IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25474 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25474 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25479 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25482 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25486 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25482 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::GetConnectionInfo: for id: 0x25486 IOCTL failed with code (Win: 0x5 HR: 0x80070005!
AswNsfCompletionPort::InjectGracefulClose: For stream SEND_PUSH: Id: 0x2548a (Cn:0x0) [0x0E041008] sz: 0, f:3 failed, code 0x80070490
AswNsfCompletionPort::InjectGracefulClose: For stream SEND_PUSH: Id: 0x2548b (Cn:0x0) [0x0EB80B98] sz: 0, f:3 failed, code 0x80070057
AswNsfCompletionPort::InjectGracefulClose: For stream SEND_PUSH: Id: 0x25490 (Cn:0x0) [0x0E041008] sz: 0, f:3 failed, code 0x80070490
AswNsfCompletionPort::InjectGracefulClose: For stream SEND_PUSH: Id: 0x2548c (Cn:0x0) [0x0B2E8EF8] sz: 0, f:3 failed, code 0x80070490
INFO: Call Stop method to the DLL