IE-7 Favorites

Adding a page to Favorites causes the entire Favorite tree to open up into
a 
big, hard to navigate, mess. I have my favorites organized several levels 
deep and have gone back to IE 6 for that reason but miss the tabs.
Is there still no way to collapse the tree in IE7 when adding pages so
that 
it presents itself the same way that it does when accessing pages??? 
 
Is there any 3rd party plug-in that would provide a better Favorite 
management?