There are two types of IMAP folders. One type contains only email. The other contains only folders.
To create an IMAP folder, right-click on the location where you would like it created or any other folder (e.g. INBOX) and select "New Folder." This will open the Create New Folder window.

Deleting a folder does not put it in the "Deleted Items" folder. Instead, it deletes the folder immediatly. Please be sure that you want to delete the folder before doing this.
Select the folder to be deleted. Press shift+right-click on the folder and select "Delete Folder."
Set an away message
This can be set at the CS Away Message site.