Aztec, I wish CH had put another 4-way or 8-way hat switch there myself, but don't cut it off...it might void your warranty.
In case you didn't know it, there is also a programable button (Button 1) built-in there with the 2 axes.
You can program it with the CH Control Manager software to be anything you want, but by default it is the switch used to select or change the Program mode of your stick setup. Each button can have up to 3 separate functions programmed into it.
Pressing inward on the tip of the mini-joystick changes the programming mode as indicated by the little LEDs that change color to portray the Program mode (Green/Red/Yellow).
Even if you don't use the Control Manager software (I do), you can assign the function of that button directly from within the Aces High interface...just ignore the X-Y Axes if you don't want to use them...that's what I do.
All The Best,
CptA