>>I think if you press on the app icon continually all application icons will start flashing. If you click on the (x) in the upper corner of this app, it will be removed. I think. HTH.
>
>Yes, but not from the App store.

You can see it at appstore, because it's like your license information. Think, you sold your application to a customer. You printed an invoice. Invoice will be at their/your accounts forever.

Another situation. You bought an application, deleted accidentaly and deleted accidentaly from appstore too. Your money gone.

But however maybe they would be create an archive page for peevish customers like you. :)

Note: I found peevish word from dictionary yet, I'm not sure exactly, if it would be a word to cause insult, sorry...