Your basking temps are good, low to mid 90's, the light source should be at least 10" from the basking spot, and ambient temps should be low to mid 80's and drop at night to low to mid 70's, and no less the 60. More than likely with the onset of the shed it's just stretching the skin in perpetration for the shed. You might want to check your temps with another thermometer to be sure and check at 15-20 min intervals to insure consistency. Panthers tend to do best with a humidity of around 70%. Also looks like from your pic she's in a glass terrarium?? If this is the case you should really consider a screened enclosure for better air circulation. The air in a glass terrarium can become pretty stagnant and produce harmful bacteria, you Panther will do much better, and be a lot happier in a screened enclosure. But I'm just very bias on this from rescuing local chameleons, we have had to give many antibiotic treatments to Chameleons we took in that where kept in glass terrariums and even aquariums, everything from URI's to bad eye infections. Speaking of URI, as mentioned above gaping is usually related to thermal regulation and sometimes the shedding, but can also be a sign of a URI, but usually includes excess mucus, and wheezing.
