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In a recent post to the EverQuest II forums, Executive Producer Dave “Smokejumper” Georgeson explained the reasoning for the stat's removal and how it will impact the game. The stat itself will be removed from the game and character pane. Buffs and debuffs that affect Critical Mitigation will undergo some changes and the elements for it will be reassigned to other effects. Additionally, NPCs will no longer use Critical Bonus to add to critical damage.

The changes will have no effect on PvP Critical Mitigation. That stat will remain a standard part of gameplay.

Source: EverQuest II Forums