I've seen quite a few fake designer shoes, especially LV. I had a few pictures in my photobucket account of them (multicolore boots, cherry blossom wedges, etc.) but I deleted them awhile ago.
But they DO exist.
I was wearing my white MC wedges a couple years ago and some girl at my school asked me where I got them..so apparently she thought they were fake because she was holding a fake bag herself.
IMO, I think there are more fake bags than shoes because shoes aren't as noticeable as a handbag is. In my experience, more people see your bag first, rather than your shoes, so it isn't really a high priority to have fake designer shoes. But then again, I really don't know why people do what they do.