There were some HDMI over CAT products a couple of years ago where they used the shield as the actual ground conductor, so no shield, no signal.
You've hit the nail on the head with this installation, if you are correct with "work fine." It would be really nice to refine and define "seem to." But the real question is, if you don't use shielded cable now, are you and your client screwed when the next evolution of signal technology comes along? I hate dealing with CAT6, but several years ago I hated dealing with CAT5, so that ends up meaning nothing in the long run.*
I've been amazed at the huge percentage of applications where shields are not needed! I'm working on a flip right now and today I noticed a camera 100 feet from the DVR, wired with CAT6 with no spline, or maybe really tight CAT (the twists per inch were much greater than with CAT5). 100 feet with no shield? Amazing.
*And as John Maynard Keynes once said, when asked about market strategies in the long run, "in the long run, we're all dead."** That's a recommendation to take care of now right now and not stop doing now because the future is coming.
**For insight on that quote, see
[Link: simontaylorsblog.com]