The entire idea of angling a shock has an effect on how far it moves for any amount of suspension travel. If it's exactly vertical, the shock will only move the same distance as the axle. Now, angle it 45 degrees. It's the hypotneuse of a right triangle, and the piston will travel much further as the suspension moves up and down, since that's the longest side of the triangle. Since shocks dampen by moving fluid, which way will the shock be more effective?

Obviously, placing a shock at 45 degrees is not too practical, but what about a 30 degree tilt or so? I believe a pretty radical angle will allow the shock to do more dampening than a straight-up configuration. Which way you angle it is up to you, considering what other parts you have to work around.
Jerry


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