Here it is. This removes the white tracer when projectiles are being fired. You still see the projectiles, as....projectiles. I have tested in land battle and sea battle and it works. Flaming and special projectiles have not been touched, but they did not have the added tracers.
Just download, unpack with 7zip and put it in you Data directory and you're good to go.
Download link changed to attachment, by popular demand.
NOTE: If anyone wants to post this little mod on other websites you need to provide a link to this original post as well as there might be updates in the future. And of course let me know first, that would be nice.
Version history:
1.1 - All traced projectiles modified
1.0 - Initial release for arrows