HL, Not expecting you to become an expert, however for folks like JP, myself and others to provide help we sometimes need a clearer picture of what inquirying folks are talking about. Such is the case here as you titled it exhaust shutter which is inside the engine compartment yet your description of where you are looking is on the outside transom assy. Were not trying to make anyone feel like we are calling them stupid just figuring out the best way to understand the issue so we can provide accurate help.
Remember we are just fellow boaters and not mechanics either and troubleshooting over the WEB is a bit of an art