ie11 in windows 8.1 preview has the ability to pick from folders in your favorites. it isn't obvious hit the star/fav icon and pick the drop down on the left. you can also creat folders and add links
Yes, nice to have it in IE 11. What I did is arrange my favorites and my folders on the desktop browser, then use it in the metro browser. I think it is far more usable now, in the past I had to swipe and swipe just to reach one of my favorites!
I'm going to have a play with it. Had to give up using Favourites with 8 as they just got displayed as a list rather than any sort of way to place them in folders etc. Bit of a pain when your favourites list of dozens of sites becomes totally unnavigable.