Choosing best answer doesn't work in latest version

<p>I've tried all sorts of combinations from the admin area under <span class="editlinktip hasTip">Select Best Answer: field, but i still see no option to choose the best answer in the backend and on the front end. </span></p>
<p><span class="editlinktip hasTip">Can someone confirm that this feature is working for them?</span></p>
<p><span class="editlinktip hasTip">Is there a way to enable question/ answer editing by the public as well, instead of having only this ability for the backend admin?<br /></span></p>