Is it possible to see/change the pivot point prior to rotation?
As far as I can tell you have to rotate, ever so slightly to get the pivot cursor to appear before changing it.
edit: Furthermore, it would be nice if the program could retain my selection AND pivot point after creating a new frame.
There are some options in this little button:
But there is no way to specify a fixed/custom location, something I’d like to add soon in a future version.
Seems like this is now an option.
If you click on “Display pivot by default” as shown in @dacap’s answer, the pivot point will appear and you could move it around.