New TLB User/Wishlist

Right Click the icon / Appearance / Edit Description
Delete whats in there. If you want it to have nothing in the description, put a single space in and hit ok. A completely empty description field will revert back to what was in there previously.

First of all, what exactly is the "Location info" you're referring to? Would be nice to show that in your screenshot...

Indeed the description of an item is shown below the horizontal bar, and this can be removed by clearing the description field as you describe, but do not put a space there, otherwise it will be non-empty. I just verified it and this works fine, both the description and the horizontal bar were gone.