It seems as though the shear is actually feeding moisture into the system right now. You can see from the WV imagery that it is bordered by very dry air to the north. For it to have a chance of doing anything, it needs to get out of the shear it is currently under (30-50 knots). It needs to make it past 70W.

11pm CST Edit: The convection is much stronger as to be expected overnight. Also to note though, the shear that was present over the system has begun a slight shift to the north. The system is now under approx. 20-30 knot shear instead of the previous range of up to 50 knots. It will be interesting to see what data can be gathered from the islands and nearby buoy's as this passes by.

There is a gap in all of the Satellite data, so it is hard to tell what the movement of the system is right now, but it seems to be West to WNW. The NHC has the system listed as having a 20% chance of development in the next 48 hours, still not much, but higher than the 0% they had it listed as in the previous reports.

CIMSS Shear Map