The entire situation is a hypocritical farce, because whilst one JW dies refusing a blood transfusion, another JW is having their life saved with a blood derivative.
I agree completely.
I think the reasoning on blood in JW literature has mutated to the point where every single element is contradicted elsewhere in the same literature and I doubt that the depth of the hypocrisy is fully grasped by all.
Active JW's certainly don't grasp this and even some on JWD who half heartedly defend the JW position seem to miss it as well.
On one hand, JW literature states that blood belongs to God and should not be "used" as man sees fit. On the other hand, JW literature outlines a policy where blood may be used in many ways. (As you point out.)
On one hand, JW literature claims that the allowed components are only "minor fractions" and some JW's will try to sidestep the problem you cite above by claiming that the allowed fractions are not actually "blood." On the other hand, JW literature contradicts this idea, specifically referring to fractions as "blood" on more than one occasion.
On one hand, JW literature claims that blood was "Reserved for one special use" and we are not allowed to "use" blood today. On the other hand, JW literature gives specific guidance to those who "use" blood as part of their occupation (e.g. Lab Techs, Nurses, etc.) saying that as long as the blood is not "used" for purposes of consumption or transfusion, then such "use" is a matter of conscience.
On one hand, JW literature points out that under the Law, sacrificial blood prefigured the blood of Christ and because of this symbolism, "using" blood today would show disrespect for Christ's sacrifice. On the other hand, JW literature acknowledges that the Law is no longer in force; that this symbolism was transferred by Christ's own command to the sacrements of communion; (i.e. The emblems of Memorial) and that animal sacrifices no longer have any value.
On one hand, JW literature claims that blood removed from the body should be poured out. On the other hand, JW literature and official correspondence allows blood completely removed from the body and taken to some other part of the medical facility for tagging or testing to be reinfused as long as the procedure is an ongoing therapy.
On one hand, JW literature claims that transfusing blood is analgous to eating blood. On the other hand, JW literature acknowledges that a blood transfusion is for all intents and purposes, an organ transplant and that organ transplants are not analgous to cannabilism.
On one hand, JW literature states that blood should not be eaten even if it is cooked first. On the other hand, current JW policy as outlined in their literature allows the use of any fraction of any component. Since heat (as in cooking) or for that matter, even distilled water will fractionate red cells, this is no different than saying it is okay to eat blood provided it is cooked first.
If there is one single element of the current reasoning on blood that is not contradicted elsewhere in their literature, I'm not sure what that would be.