In Recent Projects window that’s opened by ⌘⇧O when one removes a project using ⌘⌫ a “Trash” sound is heard.
This scared the shit out of me and I immediately went to Trash to check if the actual folder was removed and not just the link in TM.
I don’t know if it’s an intended behavior but I’m pretty sure it’s a wrong one as I almost had a small heart attack :)