A few days ago, I installed a script called tighturl on my u4u.be account.
It is now successfully working, and you may use it to shorten urls.
You can visit the url shortening page at http://u4u.be/.
I am currently looking into creating an api for my url shortening service, so that others can use it in their applications.
But for now, just visit http://u4u.be/ and enjoy!
-Michael.