Or rather, it has a 3 clause BSD licence with an additional "Comment on BSD, GPL and Copyright": http://www.shenlanguage.org/license.pdf which is significantly longer than the 3 clauses minus the all caps disclaimer of warranty boilerplate.
Which might be acceptable, it looks OK at first glance (compared to an unacceptable initial version presented yesterday), but it does add to the overhead in doing things with Shen. Fatally? I don't know, but the usual dismissal that "It's got a weird licence" still holds, even if it has much less weight now.