The additive stacking of reductions is mathematically strange. Normally, IRL, reductions occur on the remainder amount, not the original amount. For example, if you have 100 of something and reduce it by 10%, you now have 90. Doing a further 10% reduction would reduce the amount to 81, not 80. The first 10% plus the second 10% is not equal to a 20% reduction. I see what is happening with the cooldown reductions, they are just added together then applied to the original 36 seconds, but still find this strange. I also again state that it feels like cheating. A fully quickened Isobel, with 4 "heal if below x%" abilities slotted makes you close to unkillable. Only really massive kill shots, from uber bosses, might do it, otherwise you are just continuously healed. I have solo'ed group dungeons that I should not have been able to do.
The titular question has had great answers... but why use both quickened and telvanni efficiency?
On paper it is impressive; A cool down can be reduced from 36 seconds to 5.5 - and 5.5 seconds is better than a companion needs for a perfect rotation of skills (cooldown + cast time, an ability every second)... Except there are only 3x undaunted and 1x armour skills with 36 second cooldown, and they don't make a good build except for the synergies.
Cooldown reduction does not change synergy cooldowns. Even if your undaunted skills have a 5.5 second cooldown, you can only use each synergy every 20 seconds.
I love companion builds; my favourite two build styles are;
1) "quickened builds" - 4-5 skills with a cooldown of 12 seconds, and a duration of 8 seconds, use enough quickened to reduce the cooldown to 9-ish, so every ability has near 100% uptime with occasional light attacks for ultigen.
2) "telvanni efficiency builds" lots of skills have a duration half of the cooldown (including the 36 second skills due to the 20 second synergy cooldown), which allows near 100% uptime on the best companion buffs/debuffs.
I can see how certain skills (e.g. vanish) become very powerful with both quickened and TE, but I can't think of a companion build that would shine with both.