Pretty straight forward idea. I find that having favourites doesn't always work well, as it depends what the project I'm working on is, as to what tools I would consider "favourite". I also don't like having to set my favourites all the time, but would rather have a "Recent" section at the top of the list that gets populated with the 6(?) most recent Edit tools that I've used in the project (maybe initially based on favourites or simply empty until an Edit tool is used and populated as the list grows to a max number of tools).