With Kubuntu 12.04 (.0) running from flash drive, the message is displayed during shutdown (same computer; only tried once).
Furthermore, with today's Kubuntu raring daily iso, quickly pressing Esc a few times during shutdown (i.e. switching from splash to message view), the "remove media" message is displayed on the terminal (twice, actually).
With Kubuntu 12.04 (.0) running from flash drive, the message is displayed during shutdown (same computer; only tried once).
Furthermore, with today's Kubuntu raring daily iso, quickly pressing Esc a few times during shutdown (i.e. switching from splash to message view), the "remove media" message is displayed on the terminal (twice, actually).