Why did Madara use wood clones to manifest Susanoo while fighting the 5 Kage instead of shadow clones? Was it because:  


shadow clones can't perform Susanoo, but wood clones can?  
wood clones are stronger/better than shadow clones?  
Madara couldn't perform Shadow Clone Technique? 
of any other reason not mentioned above?
In the wiki, it is mentioned that


  Wood Clone Technique, unlike other clone techniques, do not disappear when hit and it is able to take damage to a certain degree. 'This, according to Madara Uchiha, makes it the perfect clone technique that only he with his dōjutsu was able to see through.' This happened in Chapter 577.


This was most likely the reason why he preferred using wood clones. The two other possibilities you mentioned above are not possible and here are the reasons:


The first possibility is wrong since both Shadow Clones and Wood Clones can perform jutsu.
The third possibility is wrong since Madara Uchiha is listed as one of the Shadow Clone users. He even used it to fake his death.