The feature you guys are looking for is already in the IDE, just in a slightly different form. You can highlight a section of code and drag it to the toolbox. It will remain there until you remove it yourself. You can do this multiple times for different segments of code. Each drag-drop will create a new entry in the toolbox. You can also rename each segment to something more meaningful than the default name.

To paste the code, just drag the item from the toolbox to the code window.

Very handy feature.Cool