Sorry for the late reaction, some time ago there were a discussion about Leo in virtualenv.
Now I could test it in Python3, PyQt5 on Kubuntu:
Here are the steps (I worked in a folder with write permission '/leo'):
1. Install PyQt5 in the system:
sudo aptitude install python3-pyqt5
2. Create the virtual environment with the '--system-site-packages' switch and without pip (I've found this the only way, which worked):
pyvenv-3.4 --system-site-packages --without-pip py3-pyqt5
3. Install setuptools and pip into the created environment:
py3-pyqt5/bin/python ez_setup.py --insecure
tar xzvf pip-6.0.8.tar.gz
cd pip-6.0.8
../py3-pyqt5/bin/python setup.py install
cd ..
Now you can install what you want in the created environment, without affecting the system.
py3-pyqt5/bin/pip install Sphinx
4. From the leo-editor source folder launch Leo with the new interpreter:
In my case: