Hi Ru,
If the locations of map features in your shp file are changing, you’ll need to generate a new spatial index file and load that - it contains bounding boxes and relates those to indexes of objects in the shape file. It’s probably not that efficient. But the ShapeLayer only uses that file to figure out what parts of the shp file that are actually on the map at a particular projection, so if you’re using everything in the shp file you don’t really need it - you can easily put together code to use the ShapeFile to just read the file and create OMGraphics.
What’s your update rate is and how much data you are reloading? Do you need to load the dbf file to get attribute information for each of your map features? Is the number or order of map features in the shp file changing?
Do you have control over the external program and the data it gives you? There are easier/faster ways to do animation, especially if the updates are quite rapid. But if you have to use shape files, there are several things you can do to make it efficient, depending on what other requirements you have to consider.
Cheers,
Don