Seems fair to me! If she shaves for your benefit, it's only fair to reciprocate. Plus, anything that might encourage her to pay you attention down there can't be a bad thing.
If shaving is causing problems for you (itching, in-growing hairs etc.) then maybe you'd have an arguement for not shaving, but you could at least keep them closely trimmed.
I've tried shaving and plucking, and either way I get the occasional in-growing hair, but not so much that it really bothers me.
Sorry, I've no experience with clit (or other) piercings. You might want to start another question with Clit Piercing in the title - if there is anyone here who knows about it, they might well have missed your message.
It would seem fair and reasonable that you should both shave... if that's the mutual preference. So, if your question is: should she shave you... since you shave her?
I would say, unless she has a shaky hand and isn't comfortable with a razor, absolutely!
As for the clit ring, I can't see having any piercing in the genitalia for women or men. But, I understand that it's become rather fashionable for ornamental purposes as well as for sexual enhancement. But, piercings can easily lead to infections and the development of keloids (unsightly scar tissue) at the site of the puncture.
1 Yes. why wouldn't you want to shave if you expct your wife to?
2.. No expert here but I'd follow the doctor's advice.
Jim