Changing settings in Nikon is not reflected in live view.
All Nikon cameras have exposure simulation in A, S, P mode, which you can set from the round, dial mode button, on top of the camera.
If you want to use M-mode from the same button, Nikon does not provide live view simulation of all the different settings. Therefore, the best solution is to change your settings and then take a snap.
Please also make sure you turn off Auto ISO sensitivity:
From - Shooting Menu -> ISO Sensitivity settings.
Change the Auto ISO sensitivity control to OFF.
Note- Normally for low lightings this is set to ON.
Q & A
Q1: Live stimulation doesn't work for all Nikon models
A1: Nikon support live view simulation for some parameters and for different cameras, but these settings are totally different from camera to camera. See this article for example: http://photo.stackexchange.com/questions/41332/nikon-live-view-shutter-speed-preview-a-non-feature-in-the-future
We have tested Shutter Stream with multiple Nikon cameras and for all we can change some parameters in live view simulations but not all.
Q2: ISO sensitivity control is set to OFF already. ISO and Shutter and Aperture didn't allow value changes
A2: Make sure your camera is not set to Manual mode. You need to rotate the wheels mode to Manual.
Q3: Cannot initiate capture command. Error code is 4294967174
A3: The error code means in NikonSDK "kNkMAIDResult_NoMedia". Please remove the SD card from the camera and try again. Or, try inserting the SD card in the camera but make sure the card is empty.