This file is indexed.

/usr/share/grub/update-grub_lib is in grub-common 1.99-27+deb7u3.

This file is owned by root:root, with mode 0o644.

The actual contents of the file can be viewed below.

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# stub for new grub-mkconfig_lib
# Copyright (C) 2007,2008  Free Software Foundation, Inc.
#
# GRUB is free software: you can redistribute it and/or modify
# it under the terms of the GNU General Public License as published by
# the Free Software Foundation, either version 3 of the License, or
# (at your option) any later version.
#
# GRUB is distributed in the hope that it will be useful,
# but WITHOUT ANY WARRANTY; without even the implied warranty of
# MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
# GNU General Public License for more details.
#
# You should have received a copy of the GNU General Public License
# along with GRUB.  If not, see <http://www.gnu.org/licenses/>.

prefix="/usr"
exec_prefix="${prefix}"
datarootdir="${prefix}/share"

. "${datarootdir}/grub/grub-mkconfig_lib"

grub_warn "update-grub_lib is deprecated, use grub-mkconfig_lib instead"