Most women would deny that exhibitionism or even watching other people might excite them, but only because they have never even thought of doing so. I have, however, found out that when they tried, even by chance, they definitely liked it. So if you succeed in creating the right atmosphere you might be lucky in finding women who enjoy watching as well as showing.
But of course this was written by a MAN.:-)

I'm not a female, indeed, but I used to shoot nude photos and I can tell you that about 50% of models get turned on when exhibiting their bodies. You should consider, however, that only small part of women wish to act like nude models. So it's definitelly not 50% of women. I'd say 5% of women enjoy exhibitionism for sure, but even less can admit that even to themselves.