When adding a bookmark to one of the desktops, it works just fine. That is, until you attemp to add a bookmark with an edited title. I wanted to save Hahlo.com as Twitter, but when trying to add it to the desktop, it doesn't list it.

Is this a bug, intended functionality, or what?

I think you run into https://bugs.maemo.org/show_bug.cgi?id=6269 here.