You've mentioned "Standard 9" - are you using Acrobat 9 Standard? Only the Pro releases of Acrobat (9, X, XI) support Portfolio creation/manipulation.
That can't be correct.
I've had the function all along until a recent update.
In addition, I currently can still create and manipulate files within a portfolio.
I lost a functionality of changing order of contents, and need that sidebar to change the layout.
Was this a update or upgrade?