The class is there but has no implementation.

It is in the actionbar of both Assets and Pages app.

Notes from Andreas 2013-04-29:

Actually, move should work as move works in 4.5 for edit bars: the selected element is sticked to the mouse pointer and without holding down the mouse button, you can move it to where it has to be. You'll get place holders / insertion markers on the way as you would during DnD.
We shouldn't offer only DnD, since it's not always accessible. And there's cases, where its awkward to use.
But especially: it works badly on tablets.
That's the intention. Move also would work with the keyboard (using arrow keys to jump to next/prev elems in lists and in/out of nodes).