My initial reaction was "No way, Love is on a terrible contract." But his contract is the same length and roughly the same size as Horford's contract, so that's less of an issue. Its basically a trade of big man defense, for big man shooting, and since the c's need shooting I think its at least defensible.
Now I don't think Cleveland does it actually. They already have Allen, Mobley, so their need for a center who can't hit threes isn't that high, even if Schroder would help.