You can easily rearrange the order of the options within a set by clicking and dragging them. You can also rearrange values within an option (in dropdowns and swatches).
To rearrange the orders of an option within a set
Browse to the desired option set and hit Edit
Click and drag the option to its new position
To rearrange values within an option
Browse to the desired option set and hit Edit
Find the option you want to modify, and click it to expand it
Scroll to the options values
Click the arrows on the right to move a value up or down
