Steel dropouts are malleable at room temperature and are relatively easy to deal with.
Titanium alloys (alpha beta alloys) are not so malleable at room temperature.
However just on the basis of looking at the picture the titanium drop out appears to be malleable at room temp. So it must be Commercialy Pure (CP alpha structure).
So, it probably will be possible to straighten it out at low temperature.
http://www.alloysinternational.com/commercially_pure_titanium.htm
"Commercially Pure Titanium contains the lowest oxygen and iron levels, producing the most formable grade of material."
http://www.kobelco.co.jp/english/titan/files/details.pdf
"Commercially pure titanium is stable for use in the temperature range up
to approximately 300ûC due to its specific strength, creep resistance, and
other properties."
"Low temperature characteristics
Neither commercially pure titanium nor titanium alloys become brittle
even at extremely low temperatures." Titanium alloys are just not so malleable at low temperatures.