Combine V-8, vodka, lemon or lime juice, Worcestershire and celery seed in a skillet. Bring to a simmer over medium heat then turn down to low. Simmer on low for 15 minutes.
After 15 minutes add the horseradish and the shrimp. Continue to cook on low until the shrimp are uniformly pink and remove from the heat. Taste and adjust seasoning to suit your taste. You may want to add salt and pepper.
Serve over pasta or rice, in bowls with crusty bread, or drained and served with toothpicks and bloody mary garnishes of your choice.