Thanks for moving my post.
It doesn't work, for some reason. Whenever I have everything set up, Skype says there is something wrong with the way I have my audio controls configured, and it crashes. If I try to configure it during the Skype conversation, the input levels are null. Basically, I can have "What U Hear" on, and the other person can be speaking, but the input levels show nothing. Also, when I have "What U Hear" on, the other person can't hear me on Skype.
I'll let someone else try this, since I'm not the one that's supposed to be shoutcasting, but the problem remains.
0 bytes sent to the server when I use this technique.