Open the Sky Atlas and tap 'Objects'. Your favorite objects will appear at the bottom of the screen. Tap 'More' and each favorite will appear as a separate entry. If you want to remove an object, slide it to the left and you will see a 'trash can' icon. Tap the trash can and confirm that you want to delete the object.
I'm not sure if there is a way to edit a favorite other than deleting and reentering it.
Don
