I don't know about the jailbreaks, I've never been bothered enough to risk fiddling with my Kindle stability, but plenty of people obviously do it. I just haven't ever seen a compelling enough "feature" from jailbreaking to justify the effort. The Kindle forum could have the answers for you on that.
Sorting by Title is an ok workaround for me, and since this lovely plugin does the hard work of creating the collections it pretty much becomes something you can forget about - you only notice the "noise" if you page to the end of your author collections.
The other trick you may not be aware of is some people like myself create a special collection on the Kindle only which contains the current book I am reading. So in my case, I use a prefix/suffix of ~ on all my author collections. Then I have a manual collection on the Kindle called _Reading_ which I manage manually on the Kindle with the next few books that I am contemplating reading. It sorts alphabetically before everything else, so no matter what browsing around I do on my Kindle it is trivial to get to the current book being read by hitting Home. This sort of replicates the "most recently read" functionality on a manual basis - but it has the advantage that it only contains exactly what you want in there.