The ice and water shield is installed under the upper layer of underlayment and on top of the lower layer of underlayment.
All shingles are now off the roof and ready for all the new roofing components.
As you can see from the arrows, the drip edge is under the starter shingles as it is supposed to be.
In this picture, the low slope of this roof is covered in ice and water to protect it from heavy rains backing up and getting under the shingles.
The arrows show you the order in which the components go down. Lower eaves get drip edge, synthetic underlayment, drip edge on the rakes, starter shingles, then the main shingles.
Last bit of installation.