If you re-order them in IE, I'm not sure how to get the order back automatically. You couldn't, in older IEs, but I won't say 100% for 10. But, you can do it manually.
Go to favorites, right-click, sort by -> more..., check "Date created", hit OK, and then sort by date created.
Now, you can get that and IE's list side by side, and match the order by dragging and dropping.
I just moved Windows Live Gallery to a position below Windows Live Mail, quit IE, and restarted it. It was still in the new position after a restart of the browser.Nope, such option is not there in IE10