I’m looking into this right now, but it’s functioning correctly here for me. I’m testing with a 500GB SHIELD, upgraded to 7.2 just now, with a WinTV DualHD 1595. The 1595 is the US ATSC/QAM model, so it’s entirely possible that they broke the DVB-T model with the latest SHIELD update.
That said, it definitely should be working. Can you give me a full set of the PMS/PTS logs? I see that same libusb error in my log, so the fact that it’s displaying for you is probably a red herring. Usually that error message indicates some sort of permissions error on a USB device, but with it working correctly for me I’m not that concerned about it. Unfortunately there’s also no rooted 7.2 build yet so I can’t look at system logs on my SHIELD to figure out why it’s printing that out.