C300: Lets see if I can explain

Just their own chosen terminology.

More official info here: https://www.red.com/red-101/black-shading-calibration

And that's one of the problems today. A lot of people and companies use incorrect terms, thinking it means one thing, when in reality it means something else. Or borrowing words and terms and applying it to something else. Or just using confusing terms that they came up with that can be confused with existing terms.
 
From what I've read from, it seems to be a more advanced type of pixel mapping/FPN compensation/noise suppression. I don't think anything is actually being done to the individual color channels(could be wrong). To me, the term connotes a relation to black balance, shading(painting) a camera and white shading(which is usually done to make compensation for lenses). Maybe it's just me, because of my background in broadcast and what I relate to when I hear 'shading', because of our cameras.
 
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