That's because shoemoney's referrals are shoemoney readers.After referring almost 1k webmasters to various adult and non-adult affiliate programs/networks all I can say is: It doesn't pay off. 98 of 100 will never make a single buck, the two left generate a sale here and there, but it's barely worth mentioning.
If I remember right the Shoemoney guy stated in an interview that he makes 500$ a month from all referrals ever generated by him (total, over all programs)...and that's alot of referrals.
That's because shoemoney's referrals are shoemoney readers.
I've done a bit over 10k I think in referrals, and know several people with much much more than me.
Yeah there is some people that make very big money on ref's. The key is the quality of the people you refer. If you plan to put up a site and just have people go through it to get the ref you're probably not going to get very far. However is you help, support and teach those affiliates to make money you'll benefit much more. I know a couple of people I've personaly refered in the past and helped make money and have make me quite a bit in ref commissions.
If you have a great blog that truly teaches people how to make money, forum or chatroom. You'll be able to help the people you're referring and make a little cash at the same time.
Just my 3 cents.