Never have done when I play against it - the counter-formations listed for 4-4-2 are 4-5-1V (defensive against higher Q) and 3N-4-1-2 (normal/attacking for lower Q opponents), or 3N-2-2-2-1 Butterfly (never found this one to work) - but then again, I'm starting to think that the counter-formations aren't all they're cracked up to be nowadays...
When I use 4-5-1V the only arrows I use are red on the AML/AMR.
I also think that there's something broken within the team itself that has caused the three-season slump that Palace Casuals are on. When you're in-game and you make any sort of player sub, positional change, formation change or tactic change and more often than not, nothing seems to happen on-field afterwards, then there must be something else wrong other than the players, formation, and tactics you are using, when they've been working perfectly previously.