The editor allows you to rename, organize and/or delete your bookmarks. You can add folders and separators to create a hierarchy and separate sections in the library, and you can drag and drop any item to reorder it or put it into a folder (or take it out).
To rename a folder or link, click it once to select it, and click it again to edit its name. When a link is selected, the path bar shows the location on your storage device where the document is currently located. Clicking on the path bar when a link is selected opens the link.
You can also open document directly from the editor by double clicking a link. (Don't click the name of the link itself, as that will start editing the name. Click before or after the name.)