It's text you wrote, why would there be any problem "covering up" your own text?
Note that, I'm not arguing you should have a right to use Selenium to scrape their site and replace the text, but if you went through every post in a non-automated fashion and changed the text, from a perspective of "covering up" the text, the purpose would be the same. Facebook almost certainly has an interest in keeping 100M users from scraping with Selenium, that's a separate thing entirely.
It’s true that editing could serve to hide it from other users, but privacy settings could do that also.
This is information that you originally put out, wrote down on Facebook, so it's not that you're hiding something you didn't want anyone to know originally. If it was libelous or something so you wanted to delete it after the fact, it's still likely possible to get it back -- even if Facebook deleted the actual message in the database, there's likely a number of methods -- server logs, db logs, cached resources, db backups, or even a simple screenshot -- that would likely be sufficient proof.
http://www.wassom.com/delete-at-your-own-risk-spoliation-of-...
As far as the rest of your post, i believe that is exactly what I was asserting originally.