Removing a track from a folder (using the right click menu item Remove From Folder) doesn't always put the track below the folder. Sometimes it puts it above. Though to be honest I'm not exactly sure what makes it go the direction it ends up taking. So I'd say this is still not changed.
Example of the moving above (and a bizarre rename issue maybe):
In blank project make 4 audio tracks (will be named Track 1, Track 2, Track 3, Track 4)
Select Track 2 and Track 3 and right click and choose Move To Folder->New Track Folder.
Now unselect the folder and Track 2 and 3 (important you do the unselect) and select track 3 and choose Remove From Folder.
It moves above the Folder 1 and is renamed Track 2 while Track 3 stays in Folder 1.
(yes, try it, no it makes no sense)
If you rename the 2 tracks in the folder (rather than leave them with the Track 2 and Track 3 names) the track that moves above is Track 3 (and it's name doesn't change after you have renamed it).
I'd love Cakewalk to see if they could clean up stuff like this.