I found an amazing designer who did the logo for NodeSocket (http://static.nodesocket.com/home/images/logo.png) for $300. Best money ever spent, he did a fabulous job.
Why is this a problem? Shutterstock does not allow it's artwork to be used in logo's. See legal: You may not use any Image (in whole or in part) as a trademark, service mark, logo, or other indication of origin, or as part thereof , or to otherwise endorse or imply the endorsement of any goods and/or services. http://www.shutterstock.com/licensing.mhtml
You could have received something like this: http://www.shutterstock.com/pic-89416879/stock-vector-paper-...
or tis one: http://www.shutterstock.com/pic-100932412/stock-vector-city-...
This one looks cool: http://www.shutterstock.com/pic-75302035/stock-vector-vector...
Remember, this is vector. Each and every part of this can be altered. Something I would really advice.
In this situation I guess he'll have to contact the designer, confront him with the shutterstock image and hope for an explanation, but what will be the outcome of all this? And isn't it there an extended license to allow full rights of the image?