FYI, Welcome Pack 2.2 will include this functionality; I’m working with techguy on this.
@tober11 Thanks. It’s nice to hear. I figured if I was going to be building my project on the back of BuddyPress I should try to do my part to give back. I’m all in with BuddyPress, so you’ll see me around here for a while.
BTW, this plugin is now release officially: https://buddypress.org/community/groups/bp-disable-activation/ and will be part of Welcome Pack 2.2 in the future.
Welcome Pack 3.3 seems to still be functional, although not updated. It has the option to customize or disable Email Activation.