I'm not sure if it is up-to-date or not, but Vafx's alternate download
is an option.
I'm at work on my lunch break right now, I'll try checking when I get home whether it's up-to-date.
The op said it didn't work, that's why I thought vaf one is not updated.
Here is a link to download an updated client I uploaded: https://docs.google.com/open?id=0B6Fgb29CeQAUeV83WHZtNlZXcVk
Before to proceed uninstall previous Shaiya installation (or delete the folder if you used vaf download).
After the download just double click the file and wait, at the end you will get a shaiya folder, run the updater.exe file in it and the game should start.