If you look under your truck you can see that the shield serves 0 purpose for the parking brake. The only time the parking brake interfaces with that dust shield is when the arm goes through the hole in the dust shield to where the parking brake cable locks on. It does not need to be on there for it to function. Now it's not to say that the shield serves a purpose in shimming out the rear axle at all. I wouldn't think it would since it is so thin and small but I can't say for sure on that because of the tolerance needed for those retaining bolts and c-clips to lock on that hold the axle shafts in.
Not to sound like a dick but the shields are no use for the parking brake. My driver side broke off at that top left area where the parking brake arm comes through and it still works fine. In fact I have maybe 1/8 of the stupid dust shield still on the drivers side and nothing is different. No fluid leaks and no parking or driving brake issues. Like I said the dust shield is too flimsy to be able to withstand that pressure from you grabbing onto the parking brake to lock the truck in position, let alone the torque when your truck is held in place with the brakes engaged. Your parking brake assembly on the other hand bolts direct to the axle so it is very secure. Look at this video and you can see what I mean:
1AAuto.com PART 1 Replace Rusted Rear Brake Backing Plates Trailblazer Envoy - YouTube
The 4 scenario's the dust shield has anything to do with the axle and the brakes are this:
1.) The dust shield sits between the parking brake assembly and the axle and may be used in a way as a sort of shim to space it out.
2.) The parking brake support bracket that keeps the parking brake line locked in place so it can spring back when not in use gets fed through an opening in the dust shield toward the top
3.) The parking brake pivot arm (I guess I can call it that, I mean to describe the part where the parking brake cable locks onto the arm that swings in and out when you disengage and engage the parking brake lever) gets fed through an hole in the dust shield.
4.) The parking brake adjustment screw has an opening that is usually plugged with a rubber grommet has a hole in the dust shield so you can sneak a screw driver in from behind the wheel to adjust your parking brake's tension at the wheels when you replace the parking brake pad or new rotors. It is only used if you don't want to pull off the wheel and entire brake assembly to adjust the star wheel. I personally prefer to take it all off and slide the new rotor in and out myself when I adjust it. This has nothing to do with the adjustment where the 2 sides meet and go to the single cable that goes up to the parking brake arm though, that is another adjustment that I think you are referring to by roadies post.
But for what you said with crud building up in the parking brake I never had anything but brake dust get in there. Usually once every 3 months I get to 5 mph and pull it up to make sure it stops smoothly and fast, if it doesn't then I just adjust the star wheels on them. Either way I don't go mudding or anything with my truck and never will because I would get stuck in a heartbeat with the weight from my system in the rear end. I use the parking brake in the snow and even with me drifting around the parking lots that were never plowed and the wheels are caked with snow the parking brake stops me on a dime.