I was able to solve the problem with ChatGPT:
I had exactly the same issue with Adobe Acrobat Pro Continuous Release 2026.002.21931 (64-bit) on Windows:
- Drag & Drop of tools in All Tools did not work.
- Right-click → Move up / Move down did nothing.
- Resetting All Tools did not help.
- Repairing the Acrobat installation did not help.
- The same Acrobat version worked correctly on another PC.
I compared the Windows Registry between the working and non-working PCs.
The relevant key is:
HKEY_CURRENT_USER\Software\Adobe\Adobe Acrobat\DC\AcroApp\cAllToolsOrder
On the working PC, the values were stored as REG_SZ and contained the actual tool names, for example:
a0 = EditPDFApp
a1 = StampApp
a2 = PagesApp
a3 = FormsApp
a4 = ProtectApp
On the problem PC, the same key existed, but all values were incorrectly stored as REG_BINARY with the value 00.
I exported the cAllToolsOrder key from the working PC and imported it into the problem PC.
After restarting Acrobat, Drag & Drop and Move up / Move down immediately worked again.
So in my case the problem was caused by a corrupted/incorrect cAllToolsOrder Registry entry.
This might be worth checking for other users experiencing the same problem.