##JavaScript (ES6), 65 bytes

Latecomer to the game...

<!-- language: lang-js -->

    01?alert`Hello, World!` : a_l_e_r_t ` H e l l o ,   W o r l d ! `

Becomes:

<!-- language: lang-js -->

    0?lr`el,Wrd`:alert`Hello, World!`

Obviously, neither the `a_l_e_r_t` function nor the `lr` function does exist. That's OK, because their respective code paths are never executed.

###Demo

<!-- begin snippet: js hide: true console: true babel: false -->

<!-- language: lang-js -->

    let code0 = "01?alert`Hello, World!` : a_l_e_r_t ` H e l l o ,   W o r l d ! `";
    let code1 = code0.replace(/../g, s => s[0]);

    console.log(code0);
    eval(code0);
    console.log(code1);
    eval(code1);


<!-- end snippet -->