Just like Lakes says, you need to use the pin labelled DTR on the CP2102 to wire to the reset pin (pin 1 on the ATMEGA328P). All the CP2102s I've been passing on to people are exactly the same as Lakes, and have a right-angled male pin header manually soldered in place there. This really has to be detailed better on our website, sorry.
There's a picture of a minimal Shrimp on a breadboard which uses a modded CP2102 and matches Lakes' schematic exactly (apart from the LED) in the Shrimping Safari article at http://blog.safaribooksonline.com/2012/07/03/time-traveling-with-old-laptops-and-arduino-compatibles/
It looks like this...
However, there's a bunch of commentary in this forum thread which suggests some additional protective components which should be added for stability if you're trying to make a general purpose Arduino-compatible on a breadboard. The argument is that the components are so cheap that they're not worth trying to eliminate them, which we'd have to agree with, given our bill of materials at http://shrimping.it/blog/bill-of-materials/
We've tried to incorporate all of these insights in the latest layout which looks like this...
Alternatively, if you haven't access to a soldering iron, get the timing really good on hitting the reset button (which you need to wire with a pull-up resistor as per the http://shrimping.it
schematic). Hit the reset button just after Compiling and just before Uploading. You have about a microsecond
Seriously, though, it's not that tight. I can generally get it every time.