I love the idea of this inspection, but the problem is that it's basically aimed at JavaSE apps and doesnt understand web frameworks or the idea of pojos (the same applies in fact for the 'declaration access can be weaker' inspection, which merrily whines about the getter/setter pattern).
There are a number of things that can make this inspection usable (aside from fixing the annotation exception list, which ignores all attempts at modifying it in7002), and this would be to be able to also add common superclasses that should be ignored.
So for example, I could add my web framework's base action class to this list, and I'd get rid of the few thousand warnings of unused declarations in all my action classes (which are used via custom tags, so nothing idea can pick up on).
Similary for getters and setters, there should be a toggle for disabling this check for properties, even if nothing is calling the getter, I'd still like it there and dont really want to be told to remove it.
The settings as they are now (field, variable, method, class) are fairly useless because they're so coarse grained.