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Okay, here's what I would do:

Go to the Buy Xmas CDs project. Tap on the project header, tap the Move button, tap Convert to Action. This will convert the project into an action group (named Buy Xmas CDs) inside your Miscellaneous project, and take you to the Miscellaneous project. Now find the action group, tap on it to bring up the editor again, and change the Project from Miscellaneous to Xmas 2010. Click Done.

If you've chosen a different project for the default Single Actions List, that will be the project used as an stepping stone, not Miscellaneous.