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BTW, I have found that the number does NOT disappear when I find out about the new activity through the notification inbox. Many times, I've read about rep changes and responses in the notification area, yet the number is still showing on the tab in my profile. Also, activity on favorites does not go to notification inbox.
This is great to be able to search through existing tags, title, and content. However, it covers only one of the requests. And it would be great if there was some kind of shortcut to this feature from the favorites tab.
I don't see how this is a duplicate of the one mentioned. I'd really like to have the option to add a short note or tag about why I starred it. I use favorites to track canonical questions that I like to refer others to, and to track questions I am interested in following, and to track new activity in questions I've answered. The last case leads to some people having thousands of favorites. See meta.stackexchange.com/questions/2322/…
