As far as I can see the toolbar's "bookmarks editor" button is missing in Konqueror 16.12.
Sorry, I think I got confused. The toolbar button I was looking for is already present. Sorry for the noise.
I think this bug is still valid, so I'm reopening it. I refer to a button in Konqueror that just opens keditbookmarks, without showing the bunch of bookmarks that one may have. I think it is missing in Konqueror 16.12 and was present in previous Konqueror versions. (Sorry for the previous confusion, which was due to the fact that I didn't have any bookmark after migrating to the 16.12 version)
Just to be sure: could you please add a screenshot or better describe it? I don't see an "open keditbookmarks" option in the toolbar editing dialog in the kdelibs4-version.
Unfortunately I don't have access to Konqueror 4 anymore, but it was basically what you said. Could it appear as manage bookmarks or alike?
According to the bookmarks menu, it appears as edit bookmarks (translated from catalan), perhaps it was used in the same way in the toolbar button (edit bookmarks)
I actually could check on the settings of a different user and found that it was just 'bookmarks'. It's weird, I don't recall it opening the whole set of boomarks, but just giving the option to edit those (via keditbookmarks). But most surely I don't recall this properly so I'm going to close the bug as resolved invalid. Sorry for the noise...