She is definitely being playful and being in a crate for a period of time and then released, she has pent up energy and frustration that is making her go a little crazy. Maybe put her on lead before you let her out of the crate then take her by herself (without the Lab) outside or to a room where you can play a game of ball for 5 to 10 minutes to take the edge off her energy, she might be less rumbustious with your older Lab. Also, if the older Lab has had enough then he/she will tell your little pup.
GSDs are rough little players, its all good while they are young and there may be lots of puppies that will love this type of play, you just need to judge each situation, if there is a puppy that is smaller and younger and more timid at the pet store then I wouldn't allow your girl to play with that one - match her to appropriate playmates. As she gets older, she probably won't want to play with other dogs.