removing the location field plugin, or even ACF for that matter will not touch the data stored in your database. No data will be edited or removed. You can uninstall and reinstall plugins all day without affecting data.
My warning about editing posts was that if you uninstall the location field, then edit a page where the location field was meant to be, then save that page, you may lose the location field data because it is not being posted / saved correctly (without the location plugin activated).
Jump on google and search for ‘acf location field’. Better yet, check out the links in the add-ons page. You will find a github repo for the location field which works in ACF v4.
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