This is a super old post, for all you future readers, you can use the delete_metadata()
function to achieve this with a lot less DB overhead:
delete_metadata(
'user', // the meta type
0, // this doesn't actually matter in this call
'my_meta_key', // the meta key to be removed everywhere
'', // this also doesn't actually matter in this call
true // tells the function "yes, please remove them all"
);