Now, the parts about there being elements of salvation outside the Church ... I could actually come up with a Catholic understanding of the concept that would not be heretical.
Now, Trent teaches that the Sacraments cannot benefit THOSE outside the Church (dogmatic teaching of Florence that most Anti-Feeneyite Trads ignore), BUT the fact that there are elements of salvation outside the Church, that's clearly true.
If the Orthodox baptize an infant and the infant dies ... that Orthodox Baptism is an element of salvation that's outside the Church. If I'm a Catholic, I can go to an Orthodox priests for confession if I'm in danger of death, and the absolution he gives would be an element of salvation.
In both cases, the one benefitting from these elements of salvation is a Catholic (though I know of one opinion holidng that an infant baptized by the Orthodox is not in the Church and not a Catholic) ... but at least in the second case it's true. St. Pius X gave permission for Catholics in Orthodox territories, where there were no Catholics churches to be found in many areas and across wide expanses, to receive the Sacraments from the Orthodox, and for those Catholics there, those were elements of salvation.
Now, what Vatican II clearly implies is that these elements of salvation outside the Church actually BENEFIT THOSE OUTSIDE THE CHURCH, and not just that they happen to be there, but then can benefit only Catholics. Yet it doesn't say that outright, so that's were struggling with an ambiguity becomes a problem.