I didn't put any shrink on the motor connections, but I did put some shrink on the posts. I know people say you shouldn't because of heat, etc; however I have not had any issues with heat (however, I have not run the ESC in the 105F Texas summer heat).
I am concerned about something shorting out across bare connections, so I'd prefer to shrink the motor connections, but I'm not as concerned about the motor connectors as I am the battery posts. I imagine that's why Tekin interlaced the motor wires with the battery wires on the ESC.