This command presents a dialog where frequently used directories and files may be specified. The full path for a directory or file may be manually typed in the textbox below the list pane or the Browse button may be used to browse to desired directories or files. Once a path has been entered/selected, pressing the Add button will add the specified path to the Favorite Files/Directories list for future use and you may press Open as Source or Open as Destination to open the specified directory or file in the desired pane.
Also, if currently comparing directories or files that you wish to add to the list, you may press the Add Source or Add Destination buttons to add active compare items to the Favorite Files/Directories list.