Brian Foote suggested this name for a smell to which we are very sensitive. You get it when people say, "Oh, I think we need the ability to this kind of thing someday" and thus want all sorts of hooks and special cases to handle things that aren't required. The result often is harder to understand and maintain. If all this machinery were being used, it would be worth it. But if it isn't, it isn't. The machinery just gets in the way, so get rid of it.
If you have abstract classes that aren't doing much, use Collapse Hierarchy. Unnecessary delegation can be removed with Inline Class. Methods with unused parameters should be subject to Remove Parameter. Methods named with odd abstract names should be brought down to earth with Rename Method.
Speculative generality can be spotted when the only users of a method or class are test cases. If you find such a method or class, delete it and the test case that exercises it. If you have a method or class that is a helper for a test case that exercises legitimate functionality, you have to leave it in, of course.