I think that may be a new template, as it does not exist in my style, so deleting it's contents is probably the way to go. To answer your question - no, it will not cause other issues removing that code.
ed: Just looked at my test site, I have that template there same as above.
However, I have deleted the contents of the editor_clientscript template. Also, I have replaced the contents of the contents of the editor_ckeditor template with that of the editor_toolbar_off template
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