I came across a bandit by a tower over the river demanding my money and then we fight. After impaling her I look up see the tower connecting it to another tower with bandits on it. I pull out my shield run up the tower, and ran towards with my shield up but nothing happen. I realize the perk is bugged but before I come to this realization I lose my footing and fell into the shallow part of the river and died.

I haven't experienced this bug. You must have ran out of stamina just before the shield bash impact.

nope doesn't work

I've seen numerous videos of people having ablast using this perk. So it does work.

It supposedly stops working after a few in-game days. I've never tested it out, so I don't know for certain, though.