Way to share your favorites list so other people can see?

You can do it simply enough by taking someone to the User Profile Page:
http://profiles.wordpress.org/bkjproductions
where “bkjproductions” is your username.

Thomas Griffin has a lengthy writeup of how to use it programmatically:
http://thomasgriffinmedia.com/blog/2012/09/how-to-use-the-new-wordpress-plugin-favorites-api/