Shredology: Somewhat. Lots of dudes do it, but it's relatively new thing for most of the guys doing it (within the last decade). It's really gained popularity in the last several years.
Check out theswirling.net for more details. I also posted a more in depth progress on sevenstring.org
here. MrDean2005 has some KILLER vids on youtube that really helped me, with technique.
Also, I'm here if you need any help/coaching/formulas. I'm no pro, but I've got some knowledge from learning things the hard way.