OK. You can reroute a segment of a track now. Right click on the segment you want to reroute, choose 'Reroute segment' and then move the mouse around gently and it will reroute through the point where the mouse is.
I'll get round to writing a proper guide to how to do it soon.
It needs to know how much of the track you want to reroute, however. For this, the segment boundaries have to be correct. It will reroute one segment, no more, no less.
So you need to do a right click (on the track) -> Split Here, at the point just before you want to reroute, and right click -> Edit -> Split Here, at the point after the bit you want to reroute.
Then right click on the segment* that is the bit you want to reroute and click Edit -> Reroute segment, and drag the mouse.
Roughly, segment splits are like bikehike's 'hard points', and 'reroute segment' is the rough equivalent of bikehike's 'drag edit mode'.
Also, most "Edit" operations (like reroute, reduce - basically things on the edit menu) on a track are undo-able - the "Undo xxx" menu item should appear at the bottom of the edit menu when you've done something you can undo.
* if it's multiple segments, to join them up:
- make sure you're not currently in drawing mode (crosshair cursor), if so, Right click -> Stop Drawing
- (left) click the first of the segments to join up
- right click the last of the segments to join up, and from the menu choose Edit -> Join Selected Segments
- they are now one segment
btw I've just done the Undo Delete function, that was pretty easy but any probs let me know.