Hi,
I looked into this and found that div is added in the blog feed to create a space after the read more link. I will change this for the next release to include a css class so it can be hidden. ie it will change to this:
<div class='excerptspacer'> </div>
then in CSS you will be able to hide it like this:
div.excerptspacer {display:none; }
However as a workaround, you can go into the feed manager settings and in the section for Excerpt Settings click the box for "Headings Only". This will make it only show the title linked to the full post.
Hope that helps,
Joe