Hi WebsiteDefender, I tend to agree with bigbadboy in this. While the display toggle is certainly an option, the default is on when your plugin is installed. Not only is it unwieldy to go in and toggle the display off for blogs with a large number of users, but the user can still go in and turn it back on, then get confused. Seriously, it happens! So an overall admin option to turn on or off your news feed would be an excellent addition.
Short of that, bigbadboy, you can manually remove the news feed for all by adding the following lines of code to your functions.php file...
add_action('admin_init','remove_dashboard_widgets');
function remove_dashboard_widgets()
{ remove_meta_box('acx_plugin_dashboard_widget','dashboard','normal'); }
You're welcome!