Honestly, they should reduce the schedule to just 66 games so that each team could play the other teams in their division three times, and everyone else two times.
Casual and semi-casual fans lose interest and won't watch a losing season because 82 games of "suck" is too much to endure. Secondly, 82 games essentially removes the excitement of the playoff race, since the huge volume of games makes things very predictable (the larger the volume of games, the more space emerges between teams). Plus, it will reduce the risk of injury.
But back to the topic at hand: I'm not opposed to reducing the length of games, but 11 minutes is just idiotic. If you're going to do it, make it congruent with FIBA and go to 10, like kozlodev said. Saving 4 minutes measly minutes isn't enough to justify changing the length of the game. Shaving 8 minutes off is a somewhat different story.