Application of synchronous optical switches in Optical Packet/Burst switched networks is considered. The shared per node architectural concept, where wavelength converters are shared among all input and output channels, is applied for contention resolution in the wavelength domain. A semi-analytical traffic model suitable to represent the different contributions to packet loss is proposed and validated. Full and limited range wavelength conversion capabilities are considered, and loss results obtained to support switch design. An approximated fully analytical approach for the limited range case is also described and comparison with simulation results is presented to assess the capability to capture the main aspects of packet loss behavior.