Fanediting in 3D

Is it possible to rip and edit 3D blu rays in the usual way?  The technology works by mixing or alternating frames, but I have no idea how that video is encoded.  If it's just a regular video stream with alternating frames that the player then interprets, then easy-peasy, and if not, then I'm not sure if the community ever worked out how to deal with the technology.

Yes, home 3D TVs are basically extinct in the US, but I just recently got one secondhand and watched Amazing Spider-Man 2 for the first time.  It's such an easy fix, relative to other projects I've taken on (and then never posted here when finished, but I digress).  I'd be making something similar to Expoed's recent Reworked cut, judging from its changelist, though not quite identical and with the 3D option.

3D Blu-ray is encoded a little strange. There's a 2D h.264 video stream that's interpreted as the left eye view. In addition to that, there's an additional stream that's just what's different from the left eye view. It can't be extracted and viewed on it's own as the left eye view can, because the compression algorithm is dependent on it.

It is possible to re-encode to a 1920x1080 (or whatever resolution) side-by-side view, and then edit using that as a source.