If you want your windows 7 operational you must not touch that partition.
If you simply remove it then your windows 7 won't boot ....
If you remove it carefully you'll be unable to use the recovery tools afterwards.
You can't backup that partition in order to deport it for later use on CD.
You Have various choices :
- Removing the partition carefully understanding that I'll disable you some features of windows such as : bitlocker and recovery tools. And you understand too that you can loose all your windows install. There is no guarantee you'll be able to run windows 7 after this procedure : http://itcookbook.net/blog/removing-windows-7-recovery-partition
- Re install Windows 7 so that it does not create the recovery partition ... Witch is safer way to do it : Create an NTFS partition that fit all the hard drive with gparted on ubuntu live, install windows and say yes when it ask you for creating supplementary partitions. After the installation of windows install your ubuntu with shrinking the windows partition.
- Last option : shrink the windows partition, leave recovery partition as it is and install ubuntu.