Bing Disavow Links tool allows users to remove the link association questionable links. The tool is accessible using Bing’s webmaster tools (http://www.bing.com/toolbox/webmaster) and allows for an unlimited number of links to be “disavow”-ed. The question would be if you disavow good links could it negatively impact your rankings. Bing says no. The main purpose of the tool is to give Bing a signal and helps them to better understand links as a whole. Bing and Google share many commonalities in fact there were accusations from both sides that each were stealing the others ranking results. It could be the case that Bing is already looking at negative links in its ranking algorithm. Google Penguin update was hated by the SEO community for doing just that, but Bing could have slipped under the radar having possibly done the same thing. This tool is welcomed none-the-less and is something that Google should consider implementing as well.
All the changes with search engine have made the job of the SEO more challenging now added on to their long list of chores will be link management. When people suggest SEO is dead they often talk about the changes at Google, like Penguin. However, these changes only make the role of the SEO more important and a role that less and less people can easily do.