This morning, by complete accident, I noticed you can move the objects on the bar by dragging them with the "command" key held down -- cool! In addition, as pointed out in the comments, control-click in the nav bar in an empty location, and you'll see a sheet of further customization options. Very impressive!
I now have a layout that I find much more usable. As a general comment, I really like the latest OW, even though it does some not so good things on this page (the "Favorite OS X Apps" box gets muddled pretty badly), and I can't yet use it with my home banking service. It's very fast and stable, and the page rendering is beautiful! They'll be getting a check from me, as I like the idea of supporting Microsoft competition!

