You can't wrap text around an inline shape. So you need to convert it to a shape first
Code:
Sub AllShapes()
' Sets all selected shapes to Locked Aspect Ratio
Dim oSh As Shape, oSl As InlineShape
For Each oSh In ActiveDocument.Shapes
oSh.LockAspectRatio = True
Next
For Each oSl In ActiveDocument.InlineShapes
oSl.LockAspectRatio = True
oSl.Line.Weight = 2
oSl.Line.Style = msoLineSingle
oSl.Line.ForeColor.RGB = RGB(91, 155, 213)
Set oSh = oSl.ConvertToShape
oSh.WrapFormat.Type = wdWrapTopBottom
Next
End Sub
Note that converting the inlineshape to a shape might result in the loop going to every second inline shape. If that is the case, you will need to step backwards through the inline shapes.