WEP is a shared authentication, i.e. one key(where actually 5 to choose from) shared by any one want to use it.
Your confusing a shared key with shared authentication.
A WEP key is alway a shared key, that's correct.
But with WEP there is also a form of authentication, thus not only to encrypt data with the key but also verify somebody is authorized to connect.
There are two forms of authentication with WEP:
Open: the WEP key is not used to verify the user is authorized
Shared: the AP sends a string to the client, the client has to encrypt te string with the WEP key and send it back. If the encryption is correct, the AP is allowed to communicate with the client.
PM needs WEP with shared authentication. The Linksys firmware can be configured to use open or shared authentication. The question is, is this possible with OpenWRT and how?