I have suffered from shin splints as well and had some success with taping and icing. The main reason was my shoes. The area described isn't consistent with where my pain was but I'm not a doctor. Get a good cold wrap to help with the pain. Probably a sign of inflammation. Where I got my tape and cold wrap:
http://kingbrand.com/Leg-Ice-Packs-and-wraps.php?REF=34PV18.316