recently just got his with this, anyone ever face a similar situation that would care to share some insight?
What do you want to know - it's pretty clear English. Worldstar is a legally registered trademark and you're using their trademark without explicit permission. They want it down and they will get it down with or without your cooperation. All you need to worry about is how much it is going to cost you if you ignore their request. Trademark law is very complicated but understand if a mark holder doesn't want you to use his mark and you ignore his request to take it down then they have the law on their side to not only get it removed but to make you pay for their efforts and any damages your illegal use of their mark has caused them. It would be in your best interest to drop that domain like a hot potato.
You definitely should delete it. That domain isn't worth the court date you could face nor the penalty financially. There is so much case law out there if you don't believe our 2 cents. If you have some emotional value on it, then, just keep it blank (without parking ads).
Since it looks like you haven't developed anything on that domain, and it likely isn't worth anything on account of this very situation, yeah. Dump it.