Putting this functionality in the hands of the user was a bad idea.

res/menu/local_identity.xml

@@ -1,7 +1,7 @@
 <?xml version="1.0" encoding="utf-8"?>
 
 <menu xmlns:android="http://schemas.android.com/apk/res/android">
-    <item android:title="@string/local_identity__regenerate_key"
+    <!--<item android:title="@string/local_identity__regenerate_key"-->
-          android:id="@+id/menu_regenerate_key"
+          <!--android:id="@+id/menu_regenerate_key"-->
-          android:icon="@drawable/refresh"/>
+          <!--android:icon="@drawable/refresh"/>-->
 </menu>

src/org/thoughtcrime/securesms/ViewLocalIdentityActivity.java

@@ -65,7 +65,7 @@ public class ViewLocalIdentityActivity extends ViewIdentityActivity {
     super.onOptionsItemSelected(item);
 
     switch (item.getItemId()) {
-      case R.id.menu_regenerate_key: promptToRegenerateIdentityKey(); return true;
+//      case R.id.menu_regenerate_key: promptToRegenerateIdentityKey(); return true;
       case android.R.id.home:        finish();                        return true;
     }