Bring chicken broth and salt to a boil in a saucepan over medium-high heat; add grits, and cook, stirring often, 5 minutes or until thickened. Add butter and pepper, stirring until butter melts. Remove from heat, and let cool 15 to 20 minutes.
Whisk milk into cooled grits; stir in baking mix until a soft dough forms. Turn dough out onto a lightly floured surface. Pat dough to a 1/2-inch thickness, and cut with a 2-inch round cutter. Place biscuits on lightly greased baking sheets.
Bake at 425° for 10 minutes or until biscuits are lightly browned.
Cut 24 shrimp in half lengthwise, and set aside.
Process cream cheese, next 4 ingredients, and remaining shrimp in a food processor until mixture is smooth, stopping to scrape down sides.
Split biscuits in half, and spread cut sides evenly with the shrimp purée, and top with remaining shrimp. Garnish, if desired.