try this:

step 1: save each favorite into an array
step 2: rewrite the text file line by line, comparing each line to the string representing the deleted favorite
step 3: if the favorite from the array is equal to the deleted favorite, skip to the next variable in the array.
step 4: when the loop is complete, your new favorites file will not have the deleted favorite
step 5: update the menu

here is the code:

VB Code:
  1. public sub deletefavorite()
  2.  
  3. ' build a variable containing all of the favorites
  4.  
  5. open favoritefile for input as #1
  6. do while not eof(1)
  7.   line input #1, x
  8.   fav = fav & "`" & x
  9. loop
  10. close
  11.  
  12. 'convert the variable into an array
  13.  
  14. array = split(fav, "`")
  15.  
  16. 'clear the file of favorites
  17.  
  18. open favoritefile for output as #1
  19. print #1, ""
  20. close
  21.  
  22. 'the loop rebuilding the file, excluding the deleted favorite
  23.  
  24. for a = lbound(array) to ubound(array)
  25.   if favorite_to_be_deleted = array(a) then goto 1
  26.   open favoritefile for append as #1
  27.   print #1, array(a)
  28.   close
  29. 1 next a
  30. end sub