We study thermal undulations of giant bilayer vesicles by flickering spectroscopy. The experimental fluctuation spectra are scrutinized in view of the classical Helfrich theory. Pure bending modes are revealed to be unable to predict the large fluctuations systematically found at a high wave vector. Hybrid curvature-dilational modes are then invoked as a more efficient mode of motion in producing high curvatures. A bimodal spectrum of the thermal undulations has been theoretically developed for the shell-like topology. Reconciliation between experiments and theory is achieved when this bimodal spectrum is considered.