The emulator is not crippled or expires in any shape, form or fashion. This emulator has been in active developent for years and the download available to the public is always the full version with no obligations pressed upon the user. Not even a request screen asking for donations to be sent or anything of that nature.
You receive a full functioning C64 emulator with all the bells and whistles. Out of curiosity, where did you see or read the emulator is shareware? Maybe you're thinking, or read somewhere someone thinking of C64S. C64S is an emulator that is shareware (If it is even being delevoped any longer).