No, it does not.
We exclude shopping ads data from the Lin/Rodnitzky Ratio script, but we had to do it in a creative way. Google's reports don't let us filter out shopping data, so we filter out queries where the query matched against a keyword that includes the string '\=' which is what you usually see for a product group.
When manually calculating the ratio, be sure to include only search campaigns and to include the 'keyword' attribute in the search terms report. In the search terms report, look for queries with 'conversions > 0'. Using different settings will produce different results than what our script calculates. A lot of people don't include the 'keyword' attribute in the search terms report and that actually changes the numbers Google reports.
For full transparency, here are the queries we use (assuming you're using 'last 30 days' for the date range):
To get the account level conversions and cost, we use the following query in AdWords:
SELECT Conversions,Cost FROM ACCOUNT_PERFORMANCE_REPORT WHERE AdNetworkType1 = "SEARCH" DURING LAST_30_DAYS
To get the converting query data, we use:
SELECT Query,Conversions,Cost,KeywordTextMatchingQuery FROM SEARCH_QUERY_PERFORMANCE_REPORT WHERE AdNetworkType1 = "SEARCH" AND Conversions > 0 DURING LAST_30_DAYS
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