There doesn't seem to be a way to make an event "Featured" through the frontend administration of the extension. Due to this reason, we are just not able to use the frontend editing at all, because with our case scenario, this is the most important one.
The Events Booking team said this:
"We don't allow doing that from frontend as we are worry that frontend users can attemp to set their events to be featured (so that their events will be displayed at the top)" .
If this is the case, you can simply add an ACL control for this as well and hence you will have an important feature available. Hope the Events Booking team will consider this.