Don't be alarmed by the 'hide' buttons on your owned items page. They're just to let you filter your pages so you can hide things and only show whatever items you want. There are links that let you view either all items, hidden items or non-hidden items. There's also the option to 'un-hide' an item after you've hidden it. It'll all make sense come Sunday. Are you just excited? I know I am!
Be on the look out for some other changes popping up :)