I am tagging on this as I too have an issue with homeshare.
I am no longer able to homeshare my audiobooks that I have in my itunes library that I purchased from the itunes store. They play just fine on my Mac.
They load just fine on my spanking new ipod via homeshare - but when I touch the play button they go away. I rebooted my router, I have made sure preferences on itunes is correct...
I have no issues with homeshare video on my ipod.
There appears to be a gliche with audiobooks.
Welcome to the Support Communities!
The article below may be able to help you with this.
Click on the link to see more details and screenshots.
Your books, collections, highlights, notes, and bookmarks are available automatically across your Mac and iOS devices—just use OS X Mavericks, iOS 6 or later, and the same Apple ID to sign in to the iBooks Store.
OS X Mavericks v10.9 and later includes the iBooks app. This app works like iBooks on your iOS devices.
If you buy a book on your Mac, it’s automatically available on all of your iOS devices with iOS 6 or later. The same is true if you purchase a book from your iOS device. iOS 7 even prompts you if you already have purchased content. You can even synchronize your bookmarks, notes, and collections across your devices.