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Technically it's not a back-fire, it's unburnt fuel getting into the exhaust, some people call it popping sound.
It's normal with the stock exhaust, a tune and modified exhaust can minimize the popping on deceleration. Some peeps like it others don't. Unless it's real bad it's nothing to worry about.
I know what you guys mean by the "burbling" or "popping" sound.... this is a distinct single pop thats much louder than the rest. Its not every time, but its definitely there and a stand alone sound.
My Z06 has the B&B PRT catback exhaust and it burbles and pops quite a bit when cold, and every now and then, I get one real loud *POP* like you describe, but I don't think it's anything to worry about.
The pop can be pretty loud, it will definately wake up your neighbors and can sound like a backfire. When mine was stock it would do it alot when cold and once in a while after I was running it hard.
As long as it's not happening everytime you let off the gas and the fact that your cats have been removed (which is probably causing the pop to sound even louder) I would say what you're hearing is normal.