Too bad the graph isn't interactive. I would like to be able to drill down into the spikes to relive some of those events.
I think if I were to use this I would periodically make the js iterate over the links on a page...maybe once per week, definitely not once per page view. Then if any links are 404s unlink them for that session and fire off an email to the maintenance person/team/AI robot notifying them that they need to update that link.
I certainly don't think its a good idea to iterate over all your links and modify the dom to unlink anything that comes up as a 404. I can see using this occasionally if you find yourself linking to sources that don't seem entirely reliable but if that is the case I'm not sure I would link there in the first place.
Either way, I'm sure there are good use cases for this. Thanks!