This bot is just filling the order history with noise; slowing down the server and making the price chart less informative for the rest of us.
Here's the fix, Mt.Gox programmers:
$MIN_TIME_TO_NEXT_TRADE = $ARBITRARY_CONSTANT / $BITCOINS_IN_THIS_TRADE
If someone wants to trade 0.0001, they still can. But they should then expect to wait 0.01/0.0001 (Using CONSTANT=0.01 for my example) or 100 seconds until their next trade.
For anyone trading a reasonable amount, the time would be so small that it wouldn't affect them.