Don't followed links show up as gray for you?
As an experiment, I just tried saving this in a file called stylesheet.css, and setting it as the default style sheet in Safari under Safari menu->Preferences->Advanced->Style sheet:
td.title a:visited { visibility: hidden; }
It's a hack to make the read items disappear. Ideally, the whole row could be hidden under a turn-down arrow, or the site could somehow track which links have been read by the user and skip them (although that's not ideal for privacy, so would be best as an option).
P.S. I wasn't expecting the first reply to be from PG! This site is awesome.