You can hide
* Right mouse click on the folder in the menu
* Select properties
* Then click hidden
it :(be carefull, first backup the registry before changing anything in it, just in case something goed wrong : On the File menu, click Export and save it)
* Go to Start > Run > type regedit
* Go to "HKEY_CURRENT_USER\Software\Microsoft\Internet Explorer\Toolbar"
There's an entry called "LinksFolderName", edit this from "Links" to blank by double clicking on the item and deleting text that says "Links".
* Then delete the Links folder in Internet Explorer > favorites again, now it should stay away