I have a couple of bows I would like to reduce in weight about 5 or 6 pounds. Is trapping the limbs a good alternative for weight reduction? If so what method would you use to accomplish this task?

There is a couple of options. I assume there is no twist or sideways bend in the limbs as of now. If trapping to the back (this goes for all methods) make sure you remove the same amount and angle on both limbs, otherwise easy to induce twist.
Another, round all four corners.
You can also sand belly glass, if I do I use a wood block with glued on sandpaper and count the strokes. A couple of thousands of an inch makes a difference.
If you make a new bow and one limb comes out much stronger than the other, the last two methods can be used there as well.
I did not ask, but I am thinking glass bows here.

Trapping can be a great way to lose draw weight. I suggest you run some masking tape down the side you want to trap (I usually trap the back) and then draw even lines down each side. You don't have to trap all the way to those lines, but they will give you some visual guidance as you try to keep each side even as well as the amount of trapping even down the length.

Yes these are glass bows.

Thanks for the advice!

I trap the back also, can lose around 4#

Don't make the other side of limb come to a sharp corner tho...