0 Hi, 02br 00I've never heard anyone say this. ". There's nothing vulgar or sexual about it.
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It may derive form the 20's or 30's style of dress the ladies wore, the Betty Boo style with tassle's and beads and Bee-Bop dance, shaking all over the place?
"How's it shaking" is a very common slang expression in America, and regardless of it's origins, it is not vulgar here. The same can be said of "How's it hanging?" It may have it's origins in discussing male genitals, but it is now a phrase that I hear on a regular basis in public with no controversy.