Yah, it works for some words more than others. It could be that there used to be a bigger difference and it's just faded over time. Of course, depending on the sentence "shouted out" could work: like if they're talking about a "shout out" to someone over the radio or something.

And sometimes "out" makes the sentence a little more poetical:

Harry looked over the lake.
Harry looked out over the lake.

I think it just depends on the word and the sentence structure.