Thanks jef for posting the link.
And yeah, it would/could be cool, if that is what the program is actually doing and it is not malicious...
But on second though, probably would not be the best for developpers... as when you remove permissions, that is a chance that it will stop the app from working. People would blame the developper instead of blaming the permission remover app... but it would keep developpers with only the required and basic permissions instead of always going for the cadillacs of permisions!
BTW, quick trick I've noticed. The Free App version always ask way more permissions than the paid App, if you remove permissions to match the paid app, it hasn't resulted in a broken app.