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1. Put saffron in small dish, pour a half cup chicken stock over it and set aside.
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2. Heat one tablespoon oil in large skillet to very hot, add shrimp and stir. Sprinkle with paprika and stir-fry just until shrimp begin to brown but are not fully cooked, 2-4 minutes. Season with cayenne pepper and remove from heat.
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3. Add butter and remaining oil and reheat. Add onion and garlic and saute until soft, working up anything stuck to the skillet, 5-6 minutes. Add the chorizo, saute a couple of minutes more, then stir in cumin and rice. Saute, stirring, until the rice turns opaque, 5-6 minutes. Stir in the saffron mixture and wine. Cook, stirring with wooden spoon over medium heat, until most of the liquid has evaporated.
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4. Add about 1/2 cup of the hot broth to the rice, stirring constantly until the broth is absorbed. Continue adding the remaining broth 1/2 cup at a time, waiting until each addition is absorbed before adding more. Continue until the rice is tender, about 35 to 45 minutes. The rice should have a creamy consistency. Add the reserved shrimp, parmesan, parsley and adjust the seasoning with salt and pepper. Serve at once.