Randy,
The Blisters on your shutters could be caused by this equation. Directly Heated dark colored paint = trapped air, moisture or solvent = blisters.
Dark colored paint absorbs heat especially from direct Sun light, the paint flash dries on the surface and traps the air, moisture or solvent beneath the surface, since it can't escape the result is blistering.
If you plan to repaint them, make sure the shutters are clean and dry. Scrape down the blisters and paint the shutters in the cool of the day and out of direct Sun light.
hope this helps
rmichael pro painter
ps
I have heard from paint reps that advise not to repaint the shutters ,the blisters should draw back to the surface over time, however, I do not recommend that option.