I understand I can turn off dynamic reference visualization by right clicking the feature tree. The problem is that I don't want to do this for every new part and assembly. Is there a way to disable the dynamic reference visualization by default? I'd prefer to only enable it when I needed to use it. It is distracting having arrows popping up when I accidentally hover over the feature tree.
Sorry but there is no way right now to disable that feature. Please vote for SPR #: 805222 on SOLIDWORKS Knowledge Base (login and active subscription required).
For newer files, you can create templates (part and assembly) with the options disabled. Simple start a new model file, disable the option (right click and unselect DRV). Now save the template and then for newer files you won't see those DRV arrows.