Thanks, I had confused myself. You're right: shifting with a negative value (or far too big) gives undefined behaviour in C. (The type punning stuff is formally undefined too, a memcpy would be more portable, but gcc promises to make the widely-used union trick work.)

Regarding the second point, the posted code works fine with 1073741825U (the literal for 2^30+1). The algorithm doesn't need the float to keep full precision, because only the exponent is consulted.