Abstruse algorithms have been derived for, and implemented in, superfluous software --- correct? readable? better with or without commas?
Yes, this is correct and works both with and without the commas. The use of commas would slightly alter the meaning by conveying that 'implemented in' is mentioned in passing, but not of equal importance to 'derived for'.
About verbs sharing an object, see also:
- How to combine in a sentence two verb-preposition pairs that have the same object?
About comma usage for parentheses (or bracketing comma), see also: