Did you install an ad-hoc IPA? Or, anything from an Xcode?
Basically, this seems a "Hello World" provisioning profile, and, as such, can be safely removed. It may result in a "Hello World" app on your iDevice not working any more, though.
I did actually try and and install a Nintendo emulator, oops and now I can't get rid of the thing as just says waiting, even when I hold and press for the wiggle it doesn't go away !
I did actually try and and install a Nintendo emulator, oops and now I can't get rid of the thing as just says waiting, even when I hold and press for the wiggle it doesn't go away !