The Mac version doesn't have a bookmark manager. You can click the star, and it saves the bookmark (or removes the bookmark). But unlike the Windows version there isn't a dialog/window that shows all your bookmarks and lets you drag/drop/etc.
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.