The paragraph textarea won't execute PHP, but just put the shortcode in the field like you would for a normal wordpress post, and then when outputting it on a page do something like this:

<?php
$text = $Record->get_field('text');
echo do_shortcode($text);
?>

Or, better yet, attach a display helper to this field with this code:

<?php echo do_shortcode($value); ?>

Actually, you can enable many things by using this in your Pod Page Precode:

<?php
function pods_advanced_content($content) {
    return apply_filters('the_content',$content);
}
add_filter('pods_content','pods_advanced_content');