I was also hoping to be able to re-distribute the starting slayer skills (I didn't need level 1 of weapon expertise I wasn't going to use), but they stay at level 1; only points you add get removed. You do recover the point from the bonus skill from you choice in Farglow (Poison Arrow for a ranger, Whirlwind for a warrior...), though.
Oh good, I was wondering about Whirlwind, although I imagine I may keep it, but I suppose time will tell. Is it worth going more than 1 point?