Bangladesh beating Australia in 2005, along with Ireland beating Pakistan and Netherlands beating England, in my opinion.
Bangladesh had done little and had shown only the occassional shoots of growth post a disasterous 2003 WC, this against Australia one of the greatest sides of all time and still the best 50 over time, so there win was a seismic shock.
Ireland had shown signs of what they could do against Zimbabwe in the previous game and in tour/domestic matches previous, but even a Pakistan side which is unpredictable, it still goes down as big win. Equally, England are unpredictable and unsteady especially in limited overs, but they were expected to win comfortably but once the Dutch part-timers got a sniff of a chance they believed they could pull off a shock and beat England at the home of cricket in the opening game of T20WC09.
I'm not sure which shock is greater, but I love moments like this, it's why it annoys me why the number of teams in the 2011 WC is being reduced to 14. Mind you, the real reason I feel is because of what happened to India/Pakistan 2007. The India shock though isn't as great as the others because Bangladesh had improved and shown they couldn't be taken as lightly as before, but arrogance and underperformance of India team along with a great Tigers performance caused the win. India were one of the favourites but Australia would always beat them and anyone in these major tournaments.
Zimbabwe's win over Australia in T20WC08 and Bangladesh's near win over Australia in a test in 2005-6 is worth a mention along with Kenya's win over Sri Lanka in WC2003 and their semi-final run.
Looking back at these upsets, it shows that the game has widened up actually a lot in this decade.