There are multiple shortcuts for the Kings Peak trail, this is not the one most people are talking about when referring to "the shortcut"! The chute is very loose and very vertical! I enjoyed it and personally would do it again, but make sure you know what you're doing or else just take the normal route. You can definitely easily injure yourself, especially on the way down. Again, this is NOT the standard route up King's Peak. This involves a very sketchy class 4 scramble. Rocks are very loose, and the chute is ~1000ft of elevation gain in less than a mile.
Here a few pics of and from the chute:
The chute is marked on the map above and the spot where we camped is as well. This is a good spot to camp to push the chute and summit in the morning immediately after waking up, and is probably the best spot for a base camp if you plan to backpack this route including doing the chute.