I've attached a save game in the mid game where I have some life shards now.  I tested by using my Sov this turn following the road south west and attacking the troll army.  The first time, i left the regen enchantment as it was, in the battle the Sov took 2 damage, and only healed 1 damage on its next turn, and did not have 100% health.

Part 2, loaded the same save, and attacked the same group.  BUT FIRST I dispelled the current regen enchantment on the Sov, and recast.  In the battle, Sov took 2 damag, and healed 2 on the next turn, which brought it to 100% health.

http://dl.dropbox.com/u/6868387/Warding%20Shiled%20issue.EleSav