How can I stop SKUID from automatically inserting the text "New Event" upon creating new Events from a Calendar Component?

Model actions to the rescue!  Set up a model action on the model that is driving your calendar. 

The triggering event should be "new row created" 

The action should be "update field"  and you should choose the subject field of that same model.  You can add whatever text you want, or you can just add a space - and it will look blank 

Skuid.  For the WIN! 

Brilliant!  This just opened a whole new world of possibilities to me.  Hadn't used Model Actions.