Hi tvhnet2013,
I confirm that you can not remove a field from the hash map of an item inside the Lightstreamer server.
However, in order to achieve the following goals: saving internal memory for the server, and saving bandwidth used on the network to send the snapshot values, you could clear the value of the 'f3' field (you could pass null or empty string or some other appropriate applicative value).
So, your second update should be something like this:
update.Add("f1", value1);
update.Add("f1", value2);
update.Add("f3", "");
// alternatively
// update.Add("f3", null);
listener.Update("A", update, false);