[AntEater]

What the vaunted SPECTRA is or isn't is up to speculation, as the Armee de'l Air sofar has not demonstrated these capabilities even to its NATO allies.
It may really be an attempt at active radar wave cancellation (like the Athena device in some Steven Coontz novels), but you'd need some serious hardware and software to blind old-fashioned radars this way.
Against modern frequency agile AESA radars, I am not sure active cancellation is feasible short of using a supercomputer on board.
But the french certainly have a hand for electronic warfare, both ECM and ESM and might be world leaders on that field.
Problem is, even if SPECTRA works as (not) advertised, Ghaddafi won't get a Rafale invisible to conventional radar, most likely Brazil won't either, mainly because Brazil has the capability to reverse-engineer the thing and sell it much cheaper.
The other features of SPECTRA are the same as DASS in the Eurofighter.

Re designation, integrating a targeting pod into the Rafale should be feasible.

Generally, France does everything in house, while Britain let its defence industry become full-time capitalist, and went further in privatization than even the US did, by privatizing its entire military R&D branch as QuinetiQ.
In France, the leading naval technology company, DCNS is a state owned institution, basically like the british naval dockyards of old.
Ironically, this means that large parts of the design work for the CVF project were done by nobody else but the Republic of France.