While I like most things about the Elegant theme, I am quite surprised by the decision to use the text "[Stop Slide Show]" which appears on the left hand side of a slide show. All of the other slide show controls are on the right hand side and are icons. The placement of this control and the use of text seems very strange.
Yes, stripped theme uses its own templates, not the default ones.
elegant is the default theme, so any change in the templates will show also for clear, dark, sylvia and all child themes people have designed based on theses ones.
It would be - in my opinion - a good modification, but it has a risk of breaking existing websites.