[wdmartin]

Okay! Your melee touch attack starts at +5 (3 BAB + 2 Dex).

You are correct that the shield is applying a penalty (-1). You are also correct that it's working just like Weapon Finesse. And yes, that was intentional. The attack attribute configurable just assigns Hero.Finesse to the PC, which then functions just like Weapon Finesse. That's hard-coded into Hero Lab; I can't change it.

The other -1 penalty is also by design: you left Power Attack enabled on the In Play tab, and it therefore applied its penalty to all your melee attack rolls, including the touch attack.

You could just look at the Ranged touch attack number, and use that -- unless you're generating a token from this file for use in an online game perhaps? In that case, you can correct for the shield penalty using the adjustment "Touch Attack Bonus, Type" and applying a bonus to your melee touch attacks.