The Collaborative International Dictionary of English v.0.48:

Exuviate \Ex*u"vi*ate\, v. i. [imp. & p. p. Exuviated, p. pr.
   & vb. n. Exuviating.][From Exuviae.] (Zo["o]l.)
   To she
   [1913 Webster]d an old covering or condition preliminary to
   taking on a new one; to molt.

         There is reason to suppose that very old crayfish do
         not exuviate every year.                 --Huxley.
   [1913 Webster]

WordNet (r) 3.0 (2006):

exuviate
    v 1: cast off hair, skin, horn, or feathers; "our dog sheds
         every Spring" [syn: shed, molt, exuviate, moult,
         slough]