Click the triangle to the right of the Find box in a Search panel to drop down the list of saved searches.
Hover the mouse over one of the items in the list and then move it over to the X at the right to hover there.
A bubble help window pops up which says "Close" -- this is strange; the action taken by clicking the X will be to Delete that item from the list, so Close is misleading. It should say "Delete."
Also, shouldn't the X be the red X in a circle like elsewhere in the UI, for consistency?
Instead of:
