I have released a new version of InteliShade that now works with either 2005 and 2008 standard and up of Visual Studio. Their is no requirement for 2008 to be installed like the previous version. Sorry about that.
What this basically gives you is Highlighting, Find Completions, Quick Info and Code Folding when writting HLSL Shaders inside Visual Studio's Environment.
Hopefully this helps when writting shaders.
InteliShade Beta 3.0