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It has never worked properly for me. I occasionally get updated server bookmarks, but why, when, and how I have no idea.

Right now my local "server" favorites file is modified while my server bookmarks have yet to catch up. Using the "Synchronize Bookmarks Now" menu item apparently does nothing.

Wait, scratch that. I just ran it before posting and my older server bookmarks just overwrote my newer local ones. Lovely.

So I have to give this feature a "No" still. Though it is one of the top reasons I paid for a license, I'm still waiting for it to work...