If you have already selected favourites in Railyard, you can make the 'Favourites' selection in CM2 and dump the lot into the Picklist which you can see in Surveyor. You can also modify your favourites list in CM2 and it will change what you see in Railyard.
Or you can be more brutal and do the following.
In CM2, select 'Locomotives'/'Local' then in the main list, select the ones that you want to have in your favourites list. Invert the selection and disable the ones now selected.
Add 'and not' /'disabled' to the search parameters. All the ones that show should be only your selections. Select them all and drag to an empty Picklist.
Now do the same thing for Rolling Stock except do not clear the Picklist.
Finally you will end up with a picklist which is visible in Surveyor containing all your favourites, and Railyard will show the same selection. At this point you could open the CM2 main window with 'Favourites' selected and drag the contents of the picklist across, the screen in Railyard will show your choices. You can always add anything new by enabling it.
The new system does work and makes a lot of thing possible. When you get used to it you will find it is better integrated than TRS2004 and CMP.
Peter