http://skyrim.nexusmods.com/downloads/file.php?id=4862 says that functionality requires SKSE
That function required OBSE in Oblivion, not sure if it can be done without an script exstender.
Hmm, I see. I remember using it in Oblivion but I guess I just didn't know that it was actually coming from OBSE. Seems so odd that they have built in functionality for weapons but not equipment. ><
Does SKSE even work with the editor yet? I remember the favorites menu was made before it came out, so I'm pretty sure it used whatever the hack tool was that was out before we had the editor. Tried to launch my version with the editor but it didn't work.
When the open beta of my project is released (http://forums.hipolipolopig.us/) I'll explain how I'm doing it using Script Dragon

Can't do it right now just in case some rival mods take the idea as their own :3
It can be done, just not as simple as it should be :/
Script Dragon? Is that the old editing tool that was used before the CK release? If so, I can't say that would be very useful, seeing as how all mods are now being made with the CK.