Honestly, between the small degree of changes, the dev posts from the last few months stating that wraps recoding and a full monk pass were unlikely to be doable in a single update, the issues with the new handwraps as weapons system already being reported, and the mention of a planned universal enhancement tree that has wis to hit and damage which would likely upset any balancing efforts made in this update, I'm hoping u33 isn't the actual monk pass but just a minor adjustment of the enhancements for new gameplay systems like melee power to keep the class alive until a full pass happens after the universal tree is released.
That said, I wouldn't stop at reducing the cost of the elemental words, but would also mirror what they did with the other two trees by deleting the staff training line and adding its effects into the elemental words to free up points and make the words line less terrible. The staff crit enhancement would move to where void strike is now while void strike would be placed in the first core without the on vorpal part to open up the void finishers to all monks. In its place in tier 5, they could add an enhancement that would restore the on vorpal effect and improve the other elemental strikes, say add an extra effect on critical that varies with multiplier similar to what they did with elemental arrows. Maybe if it wouldn't be too strong, make that a passive, always on part of a void stance toggle as often suggested on the forums that combines the other elemental stances for a net +2 to all stats after adding the +4 and -2 from opposing stances when the monk has grandmaster of forms and a net +1 when at the second highest "of forms" rank. After all, the background lore for the void disciple prestige class they borrowed from when making the henshin tree describes it as connected to the other four elements.
Eventually, the empty column from where staff training used to be could be filled with new, elemental themed abilities. A few of my
previous posts in these recent monk threads have some very rough suggestions of more spells from the oriental adventure classes that ddo monks borrow from that could be adapted to the tree as situational abilities, but looking back they were mostly the same general things an acrobat gets just rationalized with more mystic flavor text so I'll leave it to other people to think of better ideas for abilities to fill the empty column in the tree removing staff training would leave.
Oh and replace negotiator with item defense since it looks like handwraps are extremely fragile now, it would benefit both wrap users and quarterstaff users, and it seems unlikely a monk would have high enough bluff, diplo, or intimidate for that enhancement to have any practical use anyway.
Aside from that and the suggestions you made, some other things I would also like to see the ability to regen meditation usages on vorpal added to one of the early cores and maybe for the fire fire fire finisher to emulate the fireball spell instead of burning hands so it would be able to break down doors.