Here's the short form method of figuring out Win Shares:
1. Figure out Runs Created for all players on a team. 2. Figure out Outs Made by each hitter. 3. Divide Outs/12 and subtract that from Runs Created. 4. Divide that number by 3. The result is each hitter's batting Win Shares (but not <0). 5. For pitchers as hitters, do same but don't subtract Outs. 6. For pitchers as pitchers, multiply league ERA by 1.5 and then subtract 1.0. 7. Figure out how many earned runs the pitcher would have allowed had that been his ERA 8. Subtract his actual ERA 9. Add his Saves. 10. Divide by 3. That is the pitcher's Win Share (not <0). 11. For fielders, give the player one Win Share for every 24 games as catcher, 76 games at first, 28 games at second, 38 games at third, 25 at shortstop and 48 in outfield. 12. Figure out the team total, and then adjust all totals upward or downward so that the team total matches 3x the team's wins. 13. Round off numbers to integers.
Easy as pie, right?
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I kinda hope it isn't true, because they've been trying so hard to make the All-Star game legit, which isn't an easy thing to do, and for Piazza to undo that for personal reasons would be a traveshamockery.