*There may be an easier way to do this, I just don't know it*
I don't believe there is a way to make use of the "Favorite" channel list from within standard view, however all is not lost, though getting similar functionality in Standard view will take some effort.
Theater View kind of "Does it for you" as it gives you a specific "Favorite" EPG grid.
If you just want a list of your favourite channels with no program data -
Go to Playlists > Right Click > New Smartlist
then choose
File Type is tvlb.
From there, you can give your favourite stations a 5 star rating, edit the smartlist to only display 5 star ratings.
But here goes if you want full program data and you're up for a challenge...
Go to Playlists > Right Click > New Smartlist.
Under Rules, select Custom > ~d=g. This will give you a list of all programs on all channels.
Then ensure you have TV Channel tag showing in the list. This won't be your regular channel number (it's one JR assigns somehow).
You'll need to make a list of the channel numbers corresponding to your favourite channels by determining them from the list of programs.
When you've done that, you can edit the smartlist so
Custom > ~d = g
AND
TV Channel is x OR
TV Channel is y OR
TV Channel is z etc...
Jim, Perhaps it would be possible to add a "Favourite Channels" option to the selection window that shows "All Programs", "To be recorded" etc in standard view?