Figfinatic,
Tried it , it didn't work.
The wood shavings will support large colonies of fungi that will destroy the rooting cuttings.
Since I always have pine wood shavings on hand for animal bedding material, it was an easy test to perform while testing all the other proven methods. If you want to test it out anyway, I recommend heat sterilization of the wood shavings.
BTW, the used pine shavings are used as mulch around my garden, the soiled shavings are added to the compost piles. For mulch an initial layer of composted organic matter or leaves ( 1 - 2 inches deep, which gets colonized with earthworms) below the shavings mulch will allow for the slow decomposition without robbing nutrients from the soil below.