Encountered this bug while using an enchanting table. It's a little annoying because the arrow then loses all of its affects. Haven't tested this bit out as I'm short on time, but I did this with a "Potion Of The Turtle Master" tipped arrow. Don't know if this affects other types of tipped arrows. Also, firing it cause it to turn back into a normal arrow. When shift clicking, the amount of arrows in the stack you shift click must be at least 2. Cool that you can get that item in survival though.
This is already fixed in the latest snapshots and will be fixed in the next release, see MC-17431.