Although the specific fields you mention cannot be removed from the child content type through the browser or through SharePoint Designer, you can remove them if you deploy your content type through a feature. Here is the syntax:
<Elements xmlns="http://schemas.microsoft.com/sharepoint/">
<!-- Parent ContentType: Event (0x0102) -->
<ContentType ID="0x0102002aacb48149ad4a62844d0bf03d752e16"
Name="My Calendar Event"
Group="Custom Content Types"
Description="My Calendar Event"
Version="0">
<FieldRefs>
<RemoveFieldRef ID="{f2e63656-135e-4f1c-8fc2-ccbe74071901}" Name="fRecurrence" />
<RemoveFieldRef ID="{7d95d1f4-f5fd-4a70-90cd-b35abc9b5bc8}" Name="fAllDayEvent" />
</FieldRefs>
</ContentType>
</Elements>
IMPORTANT: Be sure to use lowercase for the ID of the columns you want to remove or it may not match and the columns will not be removed.
NOTE: To get the id and internal name of a column, you can use PowerShell:
$web = Get-SPWeb http://myserver
write-host $web.Fields["All Day Event"].Id
write-host $web.Fields["All Day Event"].InternalName