As the title says, I'm wondering about this topic.
Edit: Okay I figured this out. I found the checkbox in properties. I also found that each collection can have more than one featured post. I still don't know how to manipulate the order that they display on the home page. If you have any insight on that I'd be appreciative.
5 lines below the checkbox for Featured Post here is an option to Order posts, on my site http://calstock.org.uk/elf.php I have two ordered posts that always show 1, (I did have 4 at one point) a multiple engine search box and 2 a weather access. I only have three posts on my front page and I don't use the featured option.