That is aliento Orthodoxy. Personally, it's blasphemous.
As I state above, this view was never the view of the eastern church as far as I can tell. However it WAS the view of the western church for centuries. The Catholic doctrine moved towards the Orthodox position 500 years ago.
Catholics have abandoned the blood atonement concept favoring a similar Orthodox view (hence the discussions of St. Gregory and Anselm). Protestants, contrary to what the Catholics would like to have us believe, have always believed in the blood atonement. However, in some Protestant circles there is a watering down of this doctrine.
Where you consider it "blasphemous", I consider it essential. Without the shedding of blood, there is no remission of sin. I didn't see a discussion of this in St. Gregory's writings.