Yep. If you wet the backing per the instructions...it peels right off.
As an aside..I once opted for the metallic high grade film on a car I had back in 1992...kept it until 1999, and it never peeled/faded/purpled..anything. It did, however, have this slightly annoying haze to it all the time.
On my next car, the tint shop owner offered to sell me the metallic film tint again..but said the lower cost/non metallic tint would last just as long, assuming I cleaned it properly (ie no windex/ammonia...just a damp soft cotton cloth)..and that the warranty on the metallic film was longer, simply due to the extra cost.
I've had the lower cost/entry level film for 4 years now...no issues at all. Had it on the prior car for 4 years..no problem. My brother has the exact same tint/film on his 325i that he has had since 1996...with no problems.