This option show/hide the hover by setting the property CalendarComponent.SHOW_HOVER to true/false.
The code below shows how to show/hide the hover: 
<CODE>
CalendarComponent calendarComponent = new CalendarComponent();
//enable hover effect
calendarComponent.setCalendarProperty(CalendarComponent.SHOW_HOVER, new Boolean(true));
//disable hover effect
calendarComponent.setCalendarProperty(CalendarComponent.SHOW_HOVER, new Boolean(false));
</CODE>