How to edit ECB menu items in SharePoint 2007 using non-code method & code method?
There is no non-code method for this.
Jan Tielen’s three-part series is nice resource for adding items on ECB.
However hiding item can be only done by changing
core.js and this is something you don't do. Take a look at my answer here: Disable Send To and Download a Copy options for files?
Actually, I found another work around using the SPServices (http://spservices.codeplex.com/).
Rather than allow the user to have direct access to the SharePoint List (and thus having the "power" to use the ECB menu), I will use a aspx file that provide interface with the SharePoint List via SPServices.
This article can also be helpful : http://extreme-sharepoint.com/2011/10/29/hide-menu-ecb/