I didn't know that one, so thank you Mitch... but that is of only minor usefulness.
It will not allow you to drop a layer into another layer and create a sub layer. From just a brief test it really just looks like it will allow you to shuffle the order of master layers only.
I would like to be able to take a layer and drop it into a layer as a sub-layer, or a 3rd level in an existing sub-layer. I'd like movement not unlike dragging and dropping files in OSX.