I'm going to take a stab at this and hopefully help you out.
1. No. Olive Oil and Shea have too many differences (SAP values, fatty acid chains, etc.) to just substitute Shea butter for Olive Oil. You would end up with soap that is either lye heavy (dangerous) or has way too big of a superfat.
2. Yes, you will need to melt the Shea before making cold process or hot process soap with it.
3. There are many different ways/times to add color and fragrance in CP. I usually add my scent to my oils before adding my lye water and then add colors when the batter has reached emulsion (very light trace when the oils and lye water have just combined to form a "conjoined whole" rather than being two separate substances).
If I were you, I'd freeze the Shea Butter, then read/study/research a little more on the processes and procedures for making CP soap. After I felt comfortable with the idea and with my knowledge, I'd thaw the Shea and use the recipe that Seawolfe has provided to make a trial batch without color. Coloring/Swirling CP soap can be kind of tricky at first and you should get comfortable with the process of making CP soap before trying swirling.
Also, you will need to run the recipe through a
lye calculator to determine the amount of lye you will need to fully saponify the oils you are using into soap. Soapcalc.net has a good one here:
http://soapcalc.net/calc/SoapCalcWP.asp
Hope this helps.