It would great if you can easily add folders or documents to your list of favorites. (1)
And have an extra tab next to the app explorer tab with a list of all your favorites (2) so you have quick access to all the important areas in the application.
If you implement this on the project-level of your application it would greatly benefit new developers unfamiliar with the application in navigating the key areas. Being able to add a description to the bookmark will help this process.