To remove that bar, simply include this code in the section of the blog's Template.
<!--start removal code-->
<style type="text/css">
#b-navbar {height:0px;visibility:hidden;display:none}
</style>
<!--end removal code-->
Then, i request all bloggers to update the "Links" section of their blog to point to some useful sites other than pointing to "Edit ME".
Go here to find how to edit it:
*weblogs.about.com/cs/blogtemplates/qt/linkchange.htm