Trey knows him fairly well, I think. I've only worked with him a tiny bit, and met him once a million years ago.
The stacking idea seems fraught with peril, to be honest; unless all of the frames you're overlapping... for every frame in the movie... are per-fect-ly stacked... you're just gonna be adding weird ghosting artifacts, I'd imagine.
In other words: unless you nail it, the results are likely to be worse than what you started with.
That said, these sort of alignments can already be automated by certain software packages (Photoshop, for instance), so — theoretically — it's not totally unfeasible. On the other hand, Photoshop's tools for this wouldn't be of much help in the first place, and Photoshop would only be able to do it one-frame-at-a-time anyway, so in the best case you'd expect to require at least one manual click for every frame of the movie, and god help you.
Software to properly automate this process this would probably need to be custom-written; but if you did write it, you could probably find ten studios to sell it to. In principle, something along these lines could probably handle half or more of the necessary restoration for pretty much any movie, and there's definitely a market for that.
In any case, Verta's an unbelievably talented guy, and totally correct about how hideous the Blu-Rays are.
I have a tendency to fix your typos.