Yeah it's deodexed. You can open the zip (not extract it) and rename the blur and bloat replacing .apk with .bak so that when you install the update.zip through recovery, all of the bloat stays gone (or at least renamed). Don't extract the file, just open it in WinRAR and rename/delete any files you don't want so that the archive signing stays in tact.
I'm still against deleting anything given how many pieces of the Blur crap seem to be required to keep things running nicely so I always like having the originals on hand, just a rename away, if the poop hits the fan for some reason.
Edit: Noticed my camera is no longer accessible after trying this update. Ah well... restored a backup 'til that's fixed.
Edit 2: Camera works fine in 2.3.15. I had to format /System to get it to work, though. Just a heads up for anyone having a similar issue.