In summary CHA has little effect on a Shadowknight.
To be more specific:
The Necromancer/Shadowknight undead lull line of spells does NOT use CHA. This means you have no reason to boost CHA to improve the efficacy of your spells.
As PatChapp points out, CHA does adjust merchant prices. This is true for all classes. If you want the best merchant prices, you should unequip -CHA items first, and put on +CHA items if you have any. This does depend on what you are buying and selling. It probably isn't worth the time to do this when buying cheap items like Milk and Muffins, or selling cheap items like bat wings. This is because the merchant price adjustments are percentage based as far as I am aware. You will only see considerable improvements when dealing with expensive items.
CHA will also improve the rate at which Divine Intervention will save you. This is true for all classes. Divine Intervention is generally not used outside of raiding, so this specific benefit is very minor. This is because the spell is fairly expensive to cast, and generally not worth it outside of raiding. Even when you are raiding, Shadowknights will not typically receive Divine Intervention. By the time you start raiding, you probably will also be using better armor than Crusty.
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