Actually the mythbusters did a show on sharks. One thing they tested was moving verses staying still. This came from reports from survivors of the Indianapolis. With an interview with one of the survivors. They put Tory and and Grant in shark suits. One thrashed about the other stayed still. Then they reversed roles. As reported by the Indianapolis survivor staying still appeared to be the wiser decision. The sharks tended to go for the movement.
The show I saw was not Mythbusters. I believe it was a segment done by a common anti-hero of this forum, Les Stroud, called Surviving Sharks. I can't find the video online but the link to the episode guides for the 2 shows is below. Stroud's segment was the one that used mechanical dummies (shown in the slide show) surrounded by chum to test their reaction to sharks. I think the reason I remember it is because the result ran contrary to accepted wisdom. The show did imply that staying in groups was better.
http://dsc.discovery.com/convergence/sharkweek/episode-guide/episode-guide.html