SYMPTOM:
A shortcut object cannot be seen by the user despite the user having explicit ACLs to the shortcut granting the browse privilege. An example would be a shortcut with ACLs similar to those in the screenshot below.

Despite the test user having view privileges they are unable to see the shortcut object.
CAUSE:
This is caused by the user not having ACLs to the object the shortcut points to. In the example case referenced in the screenshot above the test user has ACLs to the shortcut to year but not to the year object itself.
In the case of the user not having ACLs or having "deny" set to the browse privilege for the underlying object then those privileges override the ones set at the shortcut level. This means that the user would inherit the deny browse privilege and wouldn't be able to see the shortcut.
For additional information on shortcut object security, refer to the following technote
KB16252: What is a shortcut in Microstrategy Desktop 8.x and how does its ACL affect the target object?
ACTION:
To allow the users to see the shortcut they must be given ACL privileges to the object the shortcut points to.