Index: bp-templates/bp-legacy/js/buddypress.js
===================================================================
--- bp-templates/bp-legacy/js/buddypress.js	(revision 8136)
+++ bp-templates/bp-legacy/js/buddypress.js	(working copy)
@@ -293,7 +293,7 @@
 				}
 
 				if ( 'activity-favorites' == jq( '.item-list-tabs li.selected').attr('id') )
-					target.parent().parent().parent().slideUp(100);
+					target.closest('activity-item').slideUp(100);
 			});
 
 			return false;