How To Decrypt An Encrypted Wordpress Theme Footer File
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I suppose one should give the author of this article the benefit of the doubt and assume that this is something they figured out for themselves, but there's a lot of prior art out there, e.g. [1], [2].
The other point to be made is that of course HTML output is not necessarily the only result of evaluating that obfuscated code (there could be side effects etc.), so a better approach would be to just run base64_decode on it so the source code gets returned, and then replace the obfuscated code plus eval call with that (and then modify it as desired).
[1] http://wordpress.org/support/topic/300761
[2] http://justfreetemplates.com/blog/2009/07/22/decrypting-encr...
http://wordpress.org/development/2009/07/themes-are-gpl-too/
The good news is that if your web browser can read the code, so can you.