No, not really. You could make a preset called EMPTY and overwrite the preset you don't want with it instead of deleting it.
I'm not sure why you'd want to do this though anyway. Do you know that you can easily insert a new preset anywhere in a preset list and cause everything to shift back up again? In the Edit List screen of Preset Lists, you can drag and drop a preset between two presets and that will cause everything to shift up again. Maybe, that helps with the underlying problem?