Personally i dont see the point. Just shove the engines on the A330(yes it could be done) and there ya go. Saves the $3.3 billion that europe has promised for it. Wonder how quick that'll be yanked if the A380 fails
I suppose its a cheap way to counter market the 7E7 - change the materials of some parts and redesign the wing tips, very much as Boeing did on the newer 737s.