Shah doesn't open for Middlesex in T20 cricket, or he didn't last year anyway. He opened in 1 game for Middlesex last year, and made a 2nd ball duck. He's in woeful form as well, and wasn't even seen as good enough to get a game in the IPL, so I wouldn't have him opening for England, especially when we've got Key and a good young talent like Bopara who can open, and have opened quite a few times in T20 cricket. Bopara was very good for the Kings XI in the IPL and seems to really be developing his game as an OD opener. Personally I'd go with:
Key
Bopara
Pietersen
Collingwood *
Flintoff
Napier
Mascheranas
Foster +
Broad
Swann
Anderson
Not too sure about the amount of inconsistent all-rounders, so would be tempted to bring Morgan in for Napier if he doesn't fire, but the fact we bat decently all the way down to 10 means it shouldn't be much of a problem. I think we've got a decent team, certainly one that should be capable of being one of the contenders in the tournament, especially given home conditions.