The info from the Grace co. web site states:
27.
How do I flash drip edges?
The metal drip edge or wood starter shingle should be placed over the membrane as shown in standard Grace detail drawings. The Grace self-adhered underlayments should not be installed over cedar shingles. Refer to eave application details at
www.graceconstruction.com for more information.
FLL - Whatever you do, I hope that your new shed roof keeps you dry for many years to come.
I was told of the ice shield first, drip edge second, theory years ago by some one who I consider to be a first-rate craftsman.....but then, there is more than one way to "skin a cat" so I am sure that there is more than one way to apply ice and water shield. However, manufacturers will only guarantee a product if it is appied according to their specifications.