As I wrote the information about the lung capacity and the details of the dive come directly from Herbert's blog. He tells he has the TLC of 10 liters, but that he packs 15l before the dive. He then blows the air into the equex bottle (he now calls it A-quix) in the depths of 16m. There are several photos of Herb with the bottle, and it definitely does not look bigger than 2l. On one of them I'd even wonder whether it is 2 liters at all, but I guess it must be.
So if he leaves with 15 liters, fills 2 liters at 16m, that lets him descending still with 10 liters of air in the lungs. That sounds rather a lot. In comparison, Sebastien Murat who just in these days attempts to do a 703 feet NLT dive on FRC, descends with around five times less nitrogen already from the surface. But he does not need the air for equalizing.
Another issue with Herb's method is that he reintroduces the air (including the N2) into his sinus at depth. At the bottom plate the difference of partial pressures is 25/1, and the sinus mucus is particularly well permeable for nitrogen, hence the absorption rate is very rapid even without having the air in the lungs. The absorption of nitrogen in sinus is well documented in the medical literature - in fact it is the pain trigger at sinusitis or at a blocked sinus - the nitrogen gets absorbed by the tissue, hence it creates partial vacuum in the sinus cavities, and hence the pain. And that's at 1 bar of pressure, when there is minimal gradient of partial pressures. At the mentioned gradient of 25/1, the speed of absorption is many, many folds higher.
And then, from what I saw and read, I believe Herbert re-inhales the air from the sinus on the ascent. I may be wrong, but that's what I understood. So in this way he gets plenty of the nitrogen back into his lungs at already quite great depth.
All this together, it means a NLT diver even with an Equex gets many folds time more saturated with N2 than an FRC diver.
But then again, from the report we have at this moment, it is not at all clear whether Herbert suffered a collapse of the trachea, a DCS hit, some other problems, or a mixture of different problems. In one of the blog entries it looks like even the doctors do not really know what happened. I hope though that some details will be revealed later - it is ultimately important to the community, since similar problems may soon start hitting also the standard competitive depth disciplines.