The most interesting part (to me) is that the server will handle e.g. "PUN" as though it actually said "PUT". I wonder if this could be used as an attack vector?
Sounds a lot like a "confused deputy" situation: imagine that your L7 firewall has a rule to reject any PUT request, but it sees PUN and thus allows the request to pass through to node.js, which then treats it as though it were actually PUT.