I have been using an animal bedding made from shedded up phone books lately, and I have been quite pleased with it. The reason I started using it was that the shavings I was using before had quite a bit of dust in it that would settle on everything, and clog up the window air conditioner in the rodent shed. I don't sneeze as much when I clean anymore, and it composts quicker than wood shavings. I don't know how much different this stuff is than shedded newspaper, but it is shredded up pretty fine.
-Evan