The pause displayed by IR.EXE between mini-macros in the Fav list isn't really there. It is just IR's way of showing the boundary.

However, when you execute the Fav operation (without an extender) the remote runs through the sequence of mini-macros pausing between each. Unless you have a totally different purpose in mind for the Fav key than it was designed for, that pause is needed. Maybe you don't like the length of pause they chose. But it isn't programmable.

With an extender, the Fav key operates in an entirely different way, which I think makes more sense. But that might not be what you want either.