Actually, even after 1.1 update, the main tricks mentioned here works.

I have renamed the More... icon with Apps and still have a separate Games folder icon for all the games.
Folders are now sorted to the front in alphabetical order automatically it seems if it does not have any specific location value.

So I have "Apps" as my first icon and "Games" second as below. =)
(I might modify the files so that other apps are sorted alphabetically also)



All the icons inside Apps and Games are sorted alphabetically.
(This seems to be the new default ordering for PR 1.1 update)

If all these editing isn't your thing, just use Catorise or MyMenu apps.