Patch from https://aur.archlinux.org/packages/alsaequal/
--- alsaequal/ctl_equal.c	2009-01-31 23:06:47.000000000 +0100
+++ alsaequal/ctl_equal.c	2014-01-23 15:23:01.000000000 +0100
@@ -167,7 +167,7 @@
 	snd_ctl_equal_t *equal;
 	const char *controls = ".alsaequal.bin";
 	const char *library = "/usr/lib/ladspa/caps.so";
-	const char *module = "Eq";
+	const char *module = "Eq10";
 	long channels = 2;
 	const char *sufix = " Playback Volume";
 	int err, i, index;
--- alsaequal/pcm_equal.c	2010-02-01 23:55:00.000000000 +0100
+++ alsaequal/pcm_equal.c	2014-01-23 15:23:16.000000000 +0100
@@ -151,7 +151,7 @@
 	snd_config_t *sconf = NULL;
 	const char *controls = ".alsaequal.bin";
 	const char *library = "/usr/lib/ladspa/caps.so";
-	const char *module = "Eq";
+	const char *module = "Eq10";
 	long channels = 2;
 	int err;