I also trying to remove an item from a listbox. It works fine when a select any item except the last one listed.
When I select the last item to remove all items in the listbox are removed

here is the code

     For iCnt = Me.ListBox1.ListCount - 1 To 0 Step -1
        If Me.ListBox1.Selected(iCnt) = True Then
            Me.ListBox1.RemoveItem iCnt
        End If
    Next