A reason this feature is bad is because it encourages people to be rude to those with bad rates. For instance, i've seen a couple questions where people are saying something along the lines of "Geez man. Accept some answers!" (perhaps not quite as nice, i can't remember the specific words) to someone with a "low accept rate", and it doesn't seem to contribute. If we want to be nice to the "noobs", then this feature doesnt help. The whole thing smacks of letting users not post answers to "high-risk" questioners because they "won't get their rep".
If the goal is to alert people to low-accept-rate users, than add some "low accept rate" text under really low accept rate users (25% or less or something) or maybe a moderator notification, but please don't punish people that may not realize why they are getting rude comments and less replies (whether it's simply because they don't speak good english or they are new).
And then there's the other side: The other day i went back through all my questions and accepted answers solely to boost my accept rate (it was 70 or 80-something percent). I didn't really get the "green text" which supposedly should have indicated to me my accept rate was good. Some of my questions simply didn't have good answers, but i accepted them anyway to bump it up.
What's next, accepted answer rate so we can penalize bad answerers?
I do realize you don't want people who ask questions and don't accept answers, so is it possible to replace this "feature" with something that does not encourage (as much) negative behavior?
Edit: at a minimum, can something be added to the FAQ to indicate what good acceptance rate is for answers, since people clearly don't understand the what the rates mean?