This doesn't allow you to move folders around, and it's annoying that you don't have a way to manage the bookmark of a page without browsing to that page. It's not the full "Bookmark Manager", but you can manage bookmarks.
Bookmark Bar != Bookmark Manager. Right-click on the Bookmark Bar. See that grayed-out entry for Bookmark Manager? That's not grayed-out on Windows. It should open a tab containing an app that allows you to edit/rearrange your bookmarks.
I cannot even drag bookmarks between folders in the Bookmark Bar. And as for the Bookmark Menu, I can't do anything with that at all. Not even delete bookmarks in it.
Still, bar none my favorite browser on the mac. Love the fact that the dev tools are the latest webkit version. I'm done with memory hogs that are safari and firefox (though I still use firebug every now and again).