Neutral - - If this rule applies to chat based demotion only, I'll support it in an instant. The demotion treads are a complete mess. I agree that the community should have a say on whether or not a mod should be demoded as they are the ones who usually have the greatest amount of contact with the mods. But I also think the current way of voting is way too biased and people tend to vote for a mod just because they're friends. Votes should only count if there is a valid reasoning behind their vote.
On the other side I believe that the removal of admin/ VCROC rights should not be left up to the users. Just as you say that bureaucrats tend to be inactive in chats and is therefore unable to judge properly on the actions of a mod, most of the users on the wiki come for the chat only and have no idea what the admin/ VCROC have done on the main site.
This brings a valid point. I should also point out that an admin should not be demoted for chat reasons. Admins work on main site as well, and what happens in chat should not extend into the main site.