Dialog Box Assistant allows you to control the contents and behavior of the Recent Documents and Recent Folders menus for each application.
Select the application in the Application list.
At the bottom you can find the Application information area. Using Documents | Folders radio buttons you can access the list of items that will be displayed as menu in the Open and Save As dialog boxes of the selected application.
You can modify each list using Add, Edit and Remove buttons and specify the maximum count of items (from 1 up to 50).
Edit button opens Item options dialog box, where you can choose the icon and the name of the item.
Move up and Move down buttons allowes you to reorder the list of menu items.
Using Lock item in the list checkbox you can specify the items that will be preserved in the list.
What is locked item? Whenever you open a new document its name and the path is added to the list of Recent Documents and Recent Folders. When the number of items reaches the maximum (that you specified) each new item will push out the item that was most bygone. To protect some items from being pushed you can Lock them.
Locked items are marked with
icon in the list and displayed in the Locked group in the menu.
You can also create 2 special lists of items (documents and folders) called Common Items that will be displayed in the menu of every application.
Select COMMON ITEMS in the Application list and add desired documents and folders there. Common items are displayed in the Common group in the menu.
You can turn on/off showing of the Locked items and/or Common items using corresponding checkboxes.
Menu will look like this with both checkboxes on.
Locked items - off, Common items - on.

Both checkboxes off.

Using Exclusions button you can create a list of programs that won't be affected by Dialog Box Assistant.