iShred with Garageband

Hi , is it possible to use iShred as an inter-app audio app on Garageband. I am using the iPhone 4s running iOS 7.1. Me and my band use our iDevices just for fun jam sessions and i find iShred much better than the Guitar in Garageband but i need the jam session function in Garageband? And also if we decide to make a video , will we be able to use iPhones with iShred and Garageband on the video or do we need permission from either the developers or apple? Any help will be appreciated. Thanks