They were removed intentionally - by returning them you are actually asking Mojang to undo a bugfix:
It was fixed by taking the remainder of the input divided by 224. Noise repeats every 28 units anyway, so it has no side effects. But it does prevent the overflow. By removing these instructions, the Far Lands can be returned to current versions of the game.
A minecraft world stretches 40,000 blocks from the center of the world is all directions. If each block is a meter, that's larger than Neptune (many days of only playing minecraft just to reach the border). If the OP edits the thread to how I suggested, this means only the last 256 blocks of the world would be far lands. I don't think anyone has ever crossed into the final 256 blocks of their world without going there on purpose.
The world is actually 30 million blocks from the center to the world border (actually, 1 chunk less so you can't go all the way to the edge):
The world border is essentially a giant bounding box; by default, its center lies at coordinates X/Z: 0, with a width and length of almost 30 million (29,999,984) blocks from both ends.
It is almost certain that almost nobody would ever go that far out in Survival; I've barely gone more than 3000 blocks from 0,0 in any world - including a world with more than a third of a year of playtime - even 40,000 blocks is unimaginably far away and one of the biggest put-offs of the 1.7+ world generation is how far away many of the biomes are; woodland mansions? Not a chance unless they are within 1500 blocks of spawn, the furthest I've gone out in most of my worlds:
For comparison, these are most of the worlds that I've had; note that one of the ice plains areas in World1 (the world in the stats) is nearly as large as most of my other worlds - and 1.7+ climate zones are often even larger (1.6 snowy zones are created using the same code that 1.7+ uses to place climate zones but there is no real climate system or separation of hot and cold biomes):
Also, if you are concerned about too many exposed ores, only coal can be easily found since a lot of the underground is flooded, which prevents many caves from generating - for comparison, just the chunks created on initial world creation contain around 20,000 exposed ores and I regularly mine as many as 1000 per hour of caving:
Ores can be found up to their respective maximum heights just like in the normal world. Unfortunately, due to the flooding, everything except for coal is difficult, if not impossible, to acquire. In the solid areas of the Far Lands, normal caves will generate but will be limited and small.