BBJ - I posted this on another board quite a while ago, but I think it may be of help to you and your lady. I can't take credit for everything because many people helped us figure it all out (e.g. homonunculus, wilson6, etc).
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I have helped my wife (MrsG) diet down to unbelieve condition on a couple of occassions, so I know from past experience that this will work. Of course everyone responds differently, so the amount of fat loss will vary, but the basic concepts are very sound I assure you.
Generally a CKD goes:
12 kcal / lb / day
1 g protein / lb / day
trace carbs
rest of kcal coming from fat
On the weekend, you can plan the amount of carbs you eat (e.g. 5 g / lb on Sat, 3g / lb on sunday), but I find that if I carb over Sat. and Sun., eating about 15kcal / lb / day, same protein intake but a low fat, high carb diet, it works great and is a nice way to enjoy the weekend, eating normally and worrrying little about dietary specifics. (Leaves you ready to rock on Monday.) This is a nice time to add creatine (5g / day should do it for a women your size). Also, taking alpha lipoic acid (ALA) when carbing up helps with glucose disposal and should keep her from spilling over.
What kind of training are you doing? Main thing is to only train each muscle (directly) 1x / week, not including a depletion workout just before the carb-up. I personally like doing a depletion workout - it overtrains me (same for my wife). Rather, I train (heavy) my weak muscle groups just before the carb-up. This way they are not carb depleted during the weekd (they haven't been trainied directly yet), and receive the anabolic environment of the carb-up right after being trained.
I also don't need to do much except drop carbs to get into ketosis (not that the ketosis matters much, except that the it can help a lot with appetite control). Others need to do a bunch of cardio to do so. A very effective way is to finish carbing around 6PM, do a cardio workout (HIIT works quite well) around 8PM then sleep w/o eating afterward (a protein shake is a good idea). Wake in the AM, do the same cardio workout and by mid afternoon, given no carbs, you should be ketotic...
After a while, your liver will adapt to low carbs and dropping into ketosis will be a breeze.
For my wife a combo of clen and the yohimbe ROCKED. Cycling the clen with an ECA every 2 weeks is a good idea - one I and her have done. (ECA will actually help kick your thyroid back into gear.)
As you get leaner, you may have to adjust kcal - actually 12 kcal / lbl / day may be too much. This is very variable. Regardless, keep protein high. (Too much may keep you from ketosis, but again, unless this is really helpful for your appetite, then it doens't matter. I'll take the insurance against muscle loss of the extra protein over the possible benefits of ketosis per se any day of the week!)
Now following a diet this strict is some work. When MrsG was dieting we would measure every portion with a food scale and compute calories per meal and per day. She would make sure to get her protein grams/calories in first, then fats, and lastly a little carbs (<50 g per day). It is a tough diet, but the results are amazing. She was hard, had abs, and vascularity like I've never seen before (veins in her abs and chest were popping out, esp. during sex )
In terms of supplements here is what she was on everyday:
Multivitamin
1 g Vit C
3 g Flax oil
1 g Evening primrose oil
50 mg DHEA (split 25 mg AM, 25mg before bed)
100 mg ALA
Clen (60mcg/day for 2 weeks) cycled with Ephedra (75 mg/day for weeks)
2 caps/day Twin lab Yohimbe fuel (=16mg yohimbine/day)
5g creatine
500 mg Glucosamine
500 mg Chondroitan
1000 mg MSM
that's all I can think of. Oh and of course Whey-Isolate protein, 1 - 2 shakes per day (probably about 60-80 g). She like you, only eats about 4 times a day so the shakes filled in the dietary gaps.
Last time she dieted for 10 weeks and lost 15lbs of fat, and no LBM as far as we could tell. She kept all her strength and felt/looked great.
sorry for the long post, but this is a subject I do know a little about.
DrG