My first question is, bugging in or bugging out? Since it is a BOB, I'm going to assume the later.

Replace the candles with a Krill lamp- it is a battery powered glow stick that runs on 2 AAs, is water proof, and while I'm not sure if it has been rated for explosive atmospheres, it much less likely to turn you into a signal blast if there is a gas leak nearby. Same weight and bulk, and longer lasting, and it is a safer form of illumination in an urban enviroment. If you were going to use them for cooking, look at the Nuwick candles.

Nothing good ever came from a cheap knife, unless you are an insurance company. A quality fixed blade runs about 45-50 dollars in the 5.5" range, and you can get 4" blades for a little less than that. IMO (I'm not humble) that should be the first thing you replace in this.

2 folders? Need more information- why carry two? Does one do something the other can't? Will one be moved to your pocket if BOB is on the move?

Run a small zip tie around each of the lighters, under the button, so you don't lose the gas if your load shifts.

"Packs" of matches? I hope they are stick matches and not book matches, which are only slightly less than worthless. What kind of pack are we looking at here? A match containers should be water tight, and the matches waterproofed, becuase atmospheric moisture can ruin matches just as surely as a trip to the bottom of the river.

The back of the axe can be used as a hammer. THere are no points for style here. But what are you planning on hammering? I'm not a big fan of axes unless you know how to use on well- nothing like a gashed leg to make a situation go from being just mildly interesting to down right exciting. A saw is better.

I ditto others' call on adding a multitool to replace your tool box. A used Leatherman or Gerber in good condition can be had on eBay for less than 30 bucks.

Folding shovel- the military trifold? If so, if you really need a shovel, in time you might want to replace it with the Gerber or Glock spades, which are much, much lighter. Or if you aren't planning on digging foxholes, the U-dig-it, which is a light weight folding trowel with a metal blade.

Slingshot? We've talked about them before. I like slingshots, I think they are fun, but not so good for hunting- better off with a small fishing kit. Keep in mind that if you don't have relief supplies there in 72 hours, it means everything from NYC to Atlanta is probably busted, so you won't have to live off the land.

More water. I am assuming your "disinfectant tabs" are water purification tabs? Were you are, I wouldn't want to use found water without first filtering it with a good, charcoal- or resin-based filter that is rated for chemical removal. Nothing like a little bit of hydrocarbons to leave you curled in a ball with a gut that feels like you swollowed a weedwacker.

Why the bleach?

I assume you coffee can is empty and you'll be using it as a pot? If so, fire it first (ie now) so it can get a coat of blackish-blue/grey oxidation, otherwise it will start to rust within a few hours of being used. If you have a gas stove, it's easy- put the empty coffee can on a burner for about 20 minutes. Watch it- when you start to see any of it glowing red, turn off the gas, and using tongs move it to another burner or a cooling rack to cool over night. Not sure if this works with an electric stove or not.

Missing overall: Whistle, visual signal (panels/mirror), maps of the area, compass, spare batteries. Remember, names of the game are getting out of danger and getting found.

Becuase yours is an urban pack, money is great (small bills), an old drivers liscence (it can help prove you are you) or your passport, a small book with stuff like insurance policy numbers and phone numbers.

BTW, since I'm making the assumption that your BOB is bugging out bag, not a bugging in bag, what is BOB going to be carried in?