The Effexor could certainly be contributing to the mania and cycling. I had the same problem before my diagnosis with Paxil, and even after I came off of it, I continued to cycle through all nine months of a pregnancy (can you say "manic hypersexuality"? In the same week I realized I was bipolar...and pregnant. ) Not sure how high a dose you're on with the Effexor, but that might be able to be lowered, or your pdoc could add a med like Lamictal. Lamictal has been shown to help with rapid cycling and also has antidepressant qualities. You may even be able to come off the Effexor and take Lamictal instead, along with the Risperdal. Lamictal is available in a generic (lamotrigine), so the cost shouldn't be too much. Another antidepressant option that has a lower incidence of triggering mania and cycling is Wellbutrin, also available in a generic, so that might be another option.

Definitely talk to your doctor about it. You may need to put your foot down and not let her rush you out the door.