>Liquid fats are poor, and generally
>unworkable, substitutes for solid fats in baking;

Not in all bakery products, in particular bread and cakes.

>solid fat is important to
>texture in many baked goods.

Hmnn that was the idea before the advent of liquid shortening...but
based on experience specialized liquid shortening products that
contains the right blend of emulsifers can perform better in baked
goods like for example bread bread and cakes.

Meaning the dough strengthening emulsifiers like the succinylated
monoglyceries, DATEM and SSL can make your ordinary viegetable oil to
perform like your using soild vegetable shortening in baking. but at
35% less that the amount of solid vegetable shortening.
When using liquid shortening you will need only 1/3 less for the same
functionality and textural qualities as 100% solid shortening.
Hence your soft bread can be made with less amount of fat .

Many industrial bread nowadays does not contain hardened vegetable fat
due to the issue of Trans fats.

You can duplicate that at home if you had access to the emulsifiers
such as Sodium stearoyl lactylate ( SSL)or diacetytartaric acid esters
of monoglycerides ( DATEM) and your bread will come out better than
using normal shorteing or just plain vegetable oil.
Further these cake liquid shortening are trans fats free also.!

The same also with cakes you can reduce the required fat by up to 40%
as long as you use the right emulsifiers such as either one or right
blend of these materials:

Propylene glycol monoester,( PGME) , glyceryl lactopalmitate/ stearate(
GLP), Acetylated Monoglycerides( ACETEM) and Polyglycerol esters or
monoglycerides. PGE. and your cake batter will aerate better with just
single stage mixing and better in quality than the cakes made with the
traditional cake making methods.
You can also duplicate that by dissolving any or the right blend
these emulsifiers with the oil and use it your cake making process.

One notable limitations of liquid shortening is it's not suited for
pasty and cookie making< sigh> as solid fats is amply needed here.
.. But if you are a specialist bread or cake manufacturer you have to
take the advantage of these innovative ingredients.