Anna, if you are not absorbing the transdermal oestrogen then I'd say you have little to lose by trying the Kliofem. I think you said oestradiol patches didn't stick well & if I remember rightly you tried gel as well as Lenzetto? Can I ask were you taking the Utrogestan orally or vaginally?
In your position with such troublesome symptoms, I wouldn't worry about the comparably slightly increased risk profile you mention from oral HRT.
my functional doctor told me that transdermal E and micronized bio-identical P meant I would never suffer from any of the side effects of traditional HRT
Plenty of us get side effects from transdermal regimens, so dare I say your Functional Medicine specialist is wrong if she thinks they are guaranteed side effect free!
What I would just bear in mind though, is that oral oestrogen increases Thyroid Binding Globulin, effectively reducing available thyroid hormone & as you have recently cut your dose of Armour I'd be vigilant for any indications that hypothyroid symptoms are coming back. You can always take a little more thyroid hormone to compensate if necessary.
I hope you find you absorb better from the Kliofem & that symptoms reduce as a result.

Wx
P.S was posting at same time as Mary G but see we are in agreement!