Alot uses the favourites – me incl at main page. But I find it annoying to have it in menubar. But I have it in a blog as <div> So I think alot will be very sad if you remove the module completely. Many have no idea to make it as html code or something similar as another choice if you remove the module.
But if you have to remove it – I suggest to update a help file to blogs and take the favourit list as a suggestion for a blog! So users can copy/paste/edit the code for their own need!
admin and owner of a user customized version of kiwitrees (contains 3 family trees)