From the bottom of my heart... this is the most useless and annoying feature. you always hover across that area and the stupid bar appears on the screen it take to much space and it interferes with your work. Please give me the option to disable it Please!
There is a really annoying bug where if you are near it but don't click on it and then drag the mouse it comes up and won't go away. I wish there was an icon for minimising/closing the menu bar too just out of OCD.
If you really want the bar to be gone I think you have to kill ScreenXpert and prevent it from starting on OS boot