There's a new version of alsaequal available from the creators website. Renaming the ebuild works but I suggest adding -lasound to the LDFLAGS as suggested in bug #295005 since it fixes problems with GStreamer and mpg123.
*** Bug 318927 has been marked as a duplicate of this bug. ***
+*alsaequal-0.6 (15 May 2010) + + 15 May 2010; Samuli Suominen <ssuominen@gentoo.org> +alsaequal-0.6.ebuild: + Version bump wrt #309881 by Alexander Brüning.