She might have some codependence going on. That's a difficult thing to untangle from but it might be interesting to read up on those dynamics and see how they relate to how she interacts with these friends. I can't advise about approaching that with her using clinical language, and in the meantime agree with Mark generally that it might be good to support her with the idea that some distance might be needed here for her own health. She can untangle the other factors about how she gets hooked into that stuff with a little more peace of mind after taking a breather. But she does sound easily hooked, so she'll want to explore that at some point (better with a good therapist than on her own, perhaps). Because people who manipulate for attention will use her endlessly until she firms up her own boundaries and belief in her right to take care of herself. And that will eventually hurt her if it isn't already (and it really sounds like it is).

And remember to take care of yourself, too. You're a helper in this situation. Nothing wrong with being apprehensive about what you disclose about your perspectives. Tread lightly and be supportive while she figures stuff out would be my approach if I were in your shoes. That's not easy either, so please don't forget about your own needs.