Since I am assuming you are a new TB user, I should advise you that, unlike some email clients, the beta of TB is always the possibly-buggy pre-release. That is, it never goes to production. If you're seeking a stable release, you may want to reconsider using the beta. But that's just my opinion/suggestion.

On your question, click View>Folders>Favorites and it will place the favorites at the top.

I get the caveat.

If I click on View/Folders then I see check boxes with no way to change the order. I can check/uncheck "Favorites" (or the other options), but that's about it.

Well, it does your request: it shows favorites on top of other folders. Maybe I'm misunderstanding your request.

In the folder section on the left. I wanted Favorites on top, they were on bottom. ... see image.

Since then I clicked on View/Folders Favorites to uncheck it (Favorites disappeared) then re-checked it and Favorites is now on top. I have no idea how I ever had 'All Folders above Favorites as now it seems like Favorites will only appear on the top. Not a big deal.

With version 115, you can change the older of the folder modes