If you go to the Mythbusters web site, you will find that the first vac they used had a motor which was isolated from the fumes. The second short circuited,but did not ignite--my guess there is that the ratio to air and fuel was not proper. The third vacuum, did ignite fumes--an older model.
There are plenty of law suits and people in burn units who have suffered the bad results of using a shop vac and any explosive mixture.
Don't take the chance that the optimal ratio is not present or that the shop vac does not produce sparks which will ignite fumes.
I sat in a major burn unit waiting room for 6 weeks, with the wife of a very close friend who had been badly burned. I developed a good relationship with the head of the burn unit, and the most common cause of burns was some explosive fumes, set off by a spark--next most common cause was open heaters. Shop vacs played roles in at least 2 cases which were in the unit at that time.
As with Jim's post above--my fuel pump set up has any battery connections far from the fuel source, an ignition protected switch, and a fuel pump which is ignition protected. For example, I would not use my 12 volt oil change system to pump gasoline (although I have for diesel). It is not designed to specifically prevent ignition of fumes.