You could maybe add a couple of Favorite types. Then you couldn't call it "Add favorite folder or webpage" though. You'd have to just call it "Add Favorite."
Anyway, if QAP has been activated over the top of a window's titlebar, and if the user selects "Add favorite," then QAP can add the given application as a favorite. Like if I have Notepad open and activate on the titlebar at the top of the window, a favorite is generated for "Notepad.exe."
If a bit of text has been selected, then QAP has been activated over the selected text, open the "Add favorite snippet" window with the selected text inserted to the "Content" box.
These are not really important -- just some fun ideas.
I wonder how many people group their favorites by favorite type? Such as
==========
Folder
Folder
Folder
-------
Website
Website
------
etc.
==========
It might be clever if QAP qould recognize this and put the added item with its group. For example if I use the "Add favorite" command to add a favorite folder, then QAP checks if there are 2 or more 'folder favorites' adjacent to each other. If there are, then it puts the new folder favorite just below that group.
Again, just an idea for a future version.