We know that ShapeSheets are procedural, and that we need to predefine entities and hide/show them as needed. One huge flaw is that connection points can't be hidden. They need to be stacked, which is inelegant. This raises the possibility of shapes being glued to a connection point that is intended to "not be there" by the shape developer.
If a shape is glued to a connection point that then disappears, the glue should be killed, and the appropriate ConnectionsDeleted events raised.
one caveat...if you want to hide ALL of them, place shape in a group and turn off "snap to target" at the group level....works at least on 2003