Mine disappears when I am connected to WiFi. However, the signal bars are still present. I did enable a setting in G3 Tweaksbox, though, to hide it when connected to WiFi, so maybe it constantly displaying is the norm.
Edit: Now I'm starting to think there wasn't a setting a ticked in G3 Tweaksbox, cause I can't find it now.
It is a setting in the TweaksBox. You must have enabled AOSP icons. I did that and the "LTE" thing goes away when on WiFi. This is the best, IMO.
It does go away...ok thanks didn't know that as far as sms/mms