We refer to paragraphs as components to our customers, and they are confused by the current message.
This issue is really just a holder for our patch, so by all means feel free to close it.
Needs review
1.0
Code
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It's likely this issue predates Contrib.social: some issue and comment data are missing.
Verified the patch #1 and tested it on Drupal version 10.1.x and Paragraphs feature module version 2.x. The mentioned changes in the removal confirmation text are reflected correctly and I have added the before and after screenshots for reference.