Over medium heat, in a medium sauté pan, heat the olive oil. Sauté the corn, shrimp, shallots, salt, and black pepper for 5 minutes. Stirring occasionally.
Remove from heat. In a mixing bowl, whisk the eggs and cream. Add the cornmeal, flours, baking powder, cayenne pepper, salt, and reserved corn juice. Mix until the batter is fully incorporated then gently fold in the corn.
Using a small amount of vegetable oil, heat a saute pan over medium-high heat. Spoon by heaping tablespoons of batter into the pan leaving a 1" space between the cakes. (You will need to do this in batches). Cook 2 minutes on the first side and flip over. Continue cooking for 1 minute and remove from the heat. Serve warm with a dollop of sour cream.