Removal of Node Reference, Drupal 6
So the answer to this was easier than I thought.  I loaded the $other_callout node, and then unset the $key, utilizing the following code:

foreach($other_callout-&gt;field_skus as $key=&gt;$value) {
if($value['nid'] == $sku) {
        $sku_rec = $value;
        $sku_rec_key = $key;
    continue;
    }
}

unset($other_callout-&gt;field_skus[$sku_rec_key]);

node_save($other_callout);


Thanks for the help guys, I appreciate it.

Drupal on.