On my website Timeline page, I noticed when I click on the "Share" button on the photo uploads, it doesn’t do anything. I have the boxes checked on "Timeline Config" page: "Include Share Button for". Do I need to still do something else?

Thanks, I saw I had to turn the My Profile page (where I copy/pasted the Timeline Placeholder Text) "Include Shares On Page" to "Yes". I can "share" now, but after having shared my photo, I don’t see anything happen. It will just count the number of shares. I’m not really sure what "Share" does either?

The timeline share button is for sharing within your own website.  When someone shares a post, it gets posted in the timeline, if you have checkmarked the box to show shares of posts in that app.  This configuration is on your website admin panel Configure Site > Social Networking > Timeline configurations page, under the section "Include Posts Shared from" - just checkmark the box for apps to include. 

The way to "Unshare" on your timeline page would be for the member to remove the shared post.  On your website admin panel Configure Site > Social Networking >Commenting/Rating, Likes, & Shares Config page, make sure you have text entered for "Delete Share" (bottom of page).