It is my understanding that, the "horseshoe" or "run around" heat pipe is not an option an eQuest. Model your enthalpy wheel as normal and then what I usually do here is set my supply air up higher than 55 and eliminate humidity control.
A runaround heat pipe will effectively reduce the capacity of the initial system (assuming this is at the start of design). It will then provide free reheat to a point. So if you have a system with a 10 ton load at peak, a passive run around heatpipe might bring that load down to 8.5 tons (about 15% from the reduction in delta T across the coil), it will then give you free reheat so you don't overcool the space and have to energize dehumidification systems or electric or hot gas reheat.
So, by raising your supply air temperature from 55 to 62 in equest (or whatever your heatpipe temp rise is), your unit will have a reduced capacity and will not overcool the space (humidity will not be modeled correctly).

This is how I do it, and I am eager to see how others model passive run around or horseshoe type heatpipes.

Good luck!

Joe Fleming
E.I., LEED AP BD+C, BEMP