Like others have said, if the CG doesn't move, it's just very quickly lightening the airplane, so just lower the nose unless you want to climb. If the CG shifts, you'll get a pitch moment in addition to the reduced weight, which (depending on the direction) would increase or decrease the pitch control needed at that moment.*
The big deal with cargo drops, though, is stuff like this, where the CG is definitely moving:
http://www.youtube.com/watch?v=64cU_p4dwVc&t=0m53sImagine you're doing that, but the stick breaks and the forward stuff stays put and the aft half of the stick falls out the back of the airplane. Or they're going out, but something breaks and they jam with the remaining stuff all towards the rear.
On the bright side, a parachute unfurling behind the airplane on a hung drop would help in a spin.
*Technically, if the CG didn't move at all but the weight decreased, the nose would drop because the center of lift is behind the CG, so a no-pitch-moment weight reduction would require the CG to move forward as the weight reduced.