To add to what Richard mentioned, each feature/module listed in the Dynamics.set file will have a path for the main dictionary file, modified reports dictionary file and modified forms dictionary file.
In the example of SmartList, as you know, it is the EXP1493.dic, EXP1493F.dic and EXP1493R.dic files.
While Dynamics GP will do a check for all of these dictionary files when launched, it doesn't require the forms or reports dictionary files to actually exist, though it does require the main dictionary for each feature to exist, otherwise it can't load that feature and will throw an error, as the dictionary files hold all the default windows and reports along with other objects for the feature.
If you have a modified SmartList report that user(s) are assigned, but the modified reports dictionary for SmartList, EXP1493.dic, wasn't loaded when GP was launched, you'll usually get a error about dictionary not being loaded or something along those lines.
Removing features directly from the Dynamics.set file is not actually recommended either, though we used to mention that for troubleshooting in the past. Reason being, some features like SmartList and even third-party products like SmartList Builder addins that are added to the GP directory and if the feature is removed from the Dynamics.set file but the addins still exist, you'll get the addins initialization error that you mentioned, when launching Dynamics GP.
As SmartList/1493 is a default or core feature for Dynamics GP, we shouldn't be removing it from the Dynamics.set file.
Let us know if you have any questions.
Thanks
