Most WiFi networks at places like truck stops and hotels will have 2, 3, 4 or more access points on different channels, and whichever access point gives the strongest signal relative to your laptop is the one you'll connect through. I can pull into a truck stop parking lot, say, a Flying J parking lot, and then configure my laptop to appear, in every way that matters, as an access point on the Flying J network. I can then, indeed, configure my laptop to actually be a Flying J access point.
People log onto the Flying J network, with all of their activity, logins and passwords included, passing right through my computer. The Hotspot Shield will not prevent this, as the VPN created will be between the other laptop and the WiFi access point, in this case, me. The Hotspot Shield will prevent 3rd party over-the-air snooping, of data monitoring, but it will not prevent a true interception as in the case of Access Point spoofing. You access the site (me), turn on VPN, and you're off and surfing securely (secure from everyone else but me hehe).
Configuring a laptop to be an access point is not as simple as it may sound, but then again, it's pretty darned easy if you know how. It all depends how much spoofing, and stealing, you want to do. Having a VPN, such as Hotspot Shield, is a good idea. Just don't get too much of a false sense of security from it.
Without the Hotspot Shield installed and operating, when you log onto a secure site, like a bank, the connection is https, and is secure from 3rd party snooping, anyway. The https is essentially the same as a secure VPN tunnel. On sites that are not https, but are http, no such secure tunnel exists, and that's where Hotspot Shield will create one to protect you from 3rd part snooping. Fact is, there are very few sites on the Internet that require a login, password or credit card number that are not https sites. On those sites Hotspot Shield gives no additional security. On non-secure http sites, you'll get the additional security, but then again it's not really needed on those types of sites.