Which key have you got mapped as your "shift" key on the I-Pac?
When reprogramming my I-Pac, I accidentally made the shift key one of my fire buttons (it defaults to 1P start, or "1"). Whichever key is set to the shift key will only respond when the set button is RELEASED. In real world terms, this makes it quite unresponsive as a fire button.
The easy way to check is to open a game, and press and hold the suspect button for a few seconds, and the release it. If it fires only after you release, you need to reprogram your I-Pac to set the shift button to something else that won't interfere with gameplay.