I've heat bent with shellac on the back, and still got little ruptures. Osage from a 1" thick board, not kiln dried, but seasoned in my shop for many years, so it didn't have a high moisture content.
I've also got mixed results from shellac on staves, even when they have been roughed out, floor tillered, not from a supposedly seasoned large split with potential moisture.
I switched to canola oil and haven't had any splits since.
I think shellac is good for protection when the stave is green and you are going to use wet heat to bend.
Once a stave is dry, I suspect the shellac(which is quite tough) stops the air in the woods cells from escaping, until the pressure builds up and the air is forced violently out of the cells, causing fissures.
It doesn't always happen with shellac, and dry heat. Many guys never seem to have issues. Like I said once changing to oil I've never had any problems, ever.