Understand 2.0 Favorites lets you organize locations (file/line#) or entities (e.g function foo, file foo.cpp) into a named folders.
Favorites can be “project favorites”, where they are only applicable to the .udb file open when you made them, or “all project favorites”, which are available no matter what project you have loaded. The “All Projects” variety is useful to me since I have dozens of projects of largely the same source that I use for different testing/evaluation purposes.
Favorites are shown in the “Favorites” window, which you can show by clicking on the
toolbar (or by Windows->Favorites).
I have my favorites organized into three folders:

I give a lot of web and in-person demos of Understand, “Good Demos” is where I store classes, functions, and files that help me simply explain the kinds of things Understand does. For instance, here I have classes and functions and a “butterfly” view with the [x] Sync box checked. In a demo, I can just click on the favorite and see the graph update auto-magically.

“Interfaces” provides a handy spot to stash a quick way to see the API’s we often work against here. For instance, the “Understand database API (udb)” or “Change API”. If I need to know the UDB API details, I just click on it and up comes the source:

“ToDo” stores places I want to take a peek at again later. Often this is when I find a spot, or a user reports a spot, where a crash or bug can be replicated. It is empty now, but let’s pretend I want to come back and look at a spot here in the UDB interface.
First I just click in the editor where I want to remember. Then pull down the Favorites toolbar menu:

It asks me to place the favorite, and I specify “All Projects” and put it inside “ToDo”:

It is now in my Favorites and I can visit it just by double clicking on it:

