I did an 8 week eq cycle -- 300 mg/week for 4 weeks, tben upped to 400/week for a few weeks, then back down a little after I decided to bail on a planned competition in Aug. I experienced the old increased sensitivity - but wouldn't say my sex drive increased much.
Since eq isnt' an anti-estrogen I'm not sure it would "counteract" the higher estrogen in the depo. If this is a significant issue for her, perhaps she should consult her OB GYN and try a different birth control method that is less estrogen .e.g. other estrogen / progesterone BC pills.