As you can see, the Imperial Shadow uses his Shadow Cascade on me, and even though I have a stack of Silver Shroud, I take the hit without loosing the stack.
It might be a bug related to that particular mob, or something related with staking silver shroud from different sources.
On the video, I got my first stack for using a bow attack (thanks to the Covering Fire Marksman passive) and a second stack for using Smoke Bomb, the one adquiered with smoke bomb expires right before the mob hits me.