GroupShape

Is it possible to create image/picture out of GroupShape object?

Out of GroupShape or inside GroupShape?
For the first one please check examples in the Developer Guide.

I have GroupShape object with lot of Shapes inside. I need to convert this group to image.

And another question, if I have lot of ungrouped shapes, may I somehow, navigate through collection of shapes, choose some of them and than create image that will be created from selected shapes?

Something like, multi select objects, then copy this to clipboard and then create image from clipbord.

Sorry, that is not possible to create image of selected shapes.
But I can tell you we have it in our future planes.