There is currently no way to remove the "Continue Reading" text without editing code. Depending on the version of the framework you are running, that text can be found in either content.php in the theme folder, or loop.php in the vertex subfolder of the theme.
The code you are looking for is:
get_the_content( __( 'Continue reading <span class="meta-nav">→</span>') )
and you'll want to change it to just
Just be careful to not remove too many of the closing parenthesis, or it will break things.