Can you elaborate a little more on the recovery model? The only Recovery models I've ever heard of for SQL are; Simple, Bulk Logged, and Full.
Also, there is an automatic log backup feature in V11 that can trigger log backups based on available space in the log files. Creating an Automatic Schedule for Database Log Backups
As far as shrinking the logs, as far as I know its not required, unless you want to free up some space, but that's not done automatically by the agent.
Ernst F. Graeler
Applications and File Systems