This entails a registry hack by doing the following.

Simply fire up the Registry Editor and navigate to the following key:
HKEY_LOCAL_MACHINE \ SOFTWARE \ Microsoft \ Windows \ CurrentVersion \ Explorer \ My Computer \ NameSpace \ DelegateFolders

You'll see a sub-key named 59031a47-3f72-44a7-89c5-5595fe6b30ee. If you delete this, all of the Shared Documents folders (which are normally under the group called "Other Files Stored on This Computer") will be gone.

Now close your Registry Editor and reboot to take effect.

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by Skipdawg