The mod itself only provides the "engine"; you need a "pack" for the actual visuals. How To Install Minecraft Shaders For 1.8 (Step by Step)
: Run Minecraft 1.8.1 at least once from your launcher to ensure all base files are present.
Once in-game, go to > Video Settings . You should now see a Shaders button. How to Add Shader Packs
: Download OptiFine HD for 1.8. Place the .jar file into your .minecraft/mods folder. This provides the necessary "Shaders" button in your video settings.
Since 1.8.1 was a transitional version, the most reliable way to get shaders working is through a Forge-based setup: