How To Organize the Cell Index?

If you are CE it's worth looking at ComponentCenter. A lot more sorting options. And if it doesn't do exactly what you need, it's more likely that an enhancement would be accepted there.

Is there a reason given? Why don’t they believe this is helpful? is there an alternative method that accomplishes this task?

Gmoney said:

Is there a reason given? Why don’t they believe this is helpful?

You posted your question in 2014, and presumably were using MicroStation V8i. MicroStation V8i is no longer in development.

The cell dialog in MicroStation CONNECT contains sortable columns.  You can sort in ascending order...

... or descending order ...