The block you see in the below screen shot is a Store Switcher feature. We do not remove it from the theme package because some of our customers have multi-store setup that the Store Switcher is useful for them.
To change the “Browse other premium themes”, go to “page/switch/stores.phtml”. You should be able to find the text easily in the file.
To remove the “Browse other premium themes”, go to “page/html/footer.phtml” and delete or uncommented below code:
<?php echo $this->getChildHtml('store_switcher') ?>
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