I tried it and iTunes lists it as a device but I cannot activate it in iTunes (if I select it, it immediately unselects itself). From the console output, I see that iTunes even does not try to connect to it (to TCP Port 5000).
I am currently on a Mac so I needed to do some porting (https://github.com/albertz/shairport/) but I think this shouldn't have an impact on the behavior I am getting.