I don't think so. . .at least I'm not finding it on my DROID phone. . . . .I don't miss it because I only keep a few books there -- sets of short stories and things that I can read if the unthinkable happens and I'm stuck somewhere without my Kindle.

The Kindle for Android page indicates they'll be adding a dictionary feature soon. . .no mention of collections. . . .only sorting is by title, author, and most recent. But you can send to
kindleforandroid@amazon.com and let 'em know you'd like collections. . . .they decide what features to add based on what is most asked for, at least in part.