Wow! You guys seem to be hitting rock bottom in circuit reduction.
I was going back to block diagrams that were turning into some bloated circuits.
I did one drawing with the input waveform driving 4 circuits simultaneously:
1 negative edge triggered one shot (ex. HC123) 1 positive edge triggered one shot 1 Negative edge ff and 1 Positive edge ff. Then tried some convoluted cross clearing between all of the above.. Sprinkled with gates where needed for decoding and to shorten the in/out edge delay.I think if I boiled down what I got... it would look something like the above (quoted) circuit.
D from BC