Got bored and decided to do it

Yields:
multicolor LED
Rumbler motor (what makes it vibrate)
Beefy battery
SO MANY BUTTONS!!!
Some wires
What ever else you find interesting!

Step 1: Tools

Tiny driving device for ramps wrapped helically around a rod (a small screw driver)

Super heated, yet heat isolating and precision contact maker (soldering pen)

Inspirational mini figure/item (NOT OPTIONAL! YOU MAY NEED THIS ITEM IN ORDER TO CARRY ON)

Step 2: Simple Removal Process

Back out the visible screws on the outside of the controller, once all 4 are out the shell should slide apart easily

Step 3:

There will be a couple small screws scattered all over this sucker. Just remove them and you'll be fine to move on. The battery also lifts out of the holder and the wire detaches from the other end (not on the battery!). Getting that out helps a lot too

Step 4: Nit-pick

Continue removing screws, buttons and plastic bits until you have it down to the hard parts.

Step 5: The Hard Parts

The LED (piece under the rubber ball) is cased up pretty good, the plastic lens slides off once you lift the two latches. From there you should be able to push out the LED (piece directly under the lens) and work the wires through the slit in the white plastic piece so nothing gets broke or cut up.
The only other part that's a pain is the trigger button. This bad boys is held together with screws and latches everywhere. Just take your time and start with the screws, I couldn't get any good pictures since there were so many small latches you couldn't tell just by looking at the picture.

Step 6: Removing Wires

Those flat plastic wires are probably in the way by now. Heat up your soldering iron and start removing the solders and take them off. If you are unaware of what a solder is, it's the shiny, silver metal that holds everything on the chip. A soldering pen can melt the solder to remove the wires. If you're salvaging, don't cut the wires.