Apparently someone saw my query on the Avid forums and wrote a brief article HERE.
It really is disconcerting that ALE is gone, as 24p points out, it really helps when moving logs between software and when I was an AE, I was always in the habit of running ALE files from the lab through Avid Log Exchange to make sure they're "clean", which, usually at least once a week they weren't. It's also handy for converting EDLs into log files for batch capture if you're having to rebuild an old project.
Anyway, it's annoying that it's gone, I'm sure a lot of people are going to be cursing when, like me, they eventually bite the bullet and upgrade to MC8. MediaLog is gone too btw, which was a useful tool to help keep your 2nd AE busy for a few hours if your production was too cheap to have a lab log your dailies.
I'm starting to get nostalgic for the old days of tapes and floppy disks arriving every morning...