You could, but I'm not sure I would. The ignition would still work without either wire on the I post in fact, but both serve a different function.
The original Brown wire still gives an additional punch to the ignition coil only.
The White wire sends a "start" signal to the module to do whatever it does with that information. I ran my module without a White wire for many years and probably would never have noticed a difference either way.
One of the others can tell you what it's function is. Viper might know, but I believe most of the members here that know such things say that the blue grommet modules (presumably that's what you're using?) do not have a start-retard function to aid in starting (especially when hot) but maybe they have a feature that increases, or decreases spark dwell time or something like that.
I don't know, but it will run fine without it.
And the same goes for the Brown wire actually. With your much better ignition the extra 12v jumper when starting is not as critical with a well tuned and good running engine.
But Ford left it there through the whole early Dura Spark years, so not really any big reason to remove it either.
You just trying to clean up the wiring? Or having some other issue?
Paul