Snip any large pieces in preserves. In bowl combine preserves, horseradish, mustard blend, and lemon juice. Set aside.
Sprinkle beef on both sides with 1/4 teaspoon each salt and pepper. For charcoal grill, grill steaks on the rack of uncovered grill directly over medium coals, turning once. Allow 10 to 12 minutes for medium-rare doneness (145 degrees F), 12 to 15 minutes for medium (160 degrees F). Grill bread slices with steaks during last 2 minutes, or until bread is toasted; turn once. (For gas grill, preheat grill. Reduce to medium. Place steaks on rack over heat. Cover and grill as above.)
Divide arugula among 4 serving plates. Top with bread slices. Drizzle with dressing. Slice steak; arrange on bread. Top with red peppers and blue cheese. Makes 4 servings.