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We too are frustrated by the template menu being only one level deep. I have not found anyway to work around this.
Right now we use the following "folders".
Standard - Ad hoc
Standard - Monthly
Standard - Quarterly
Standard - Weekly
We used to display/publish them by team based roles but with 35 teams this quickly became a maintenance headache as we rolled out other modules.
Now everyone sees all of the templates using the "folders" above. If our list gets really long we will use the "Hide in UI when:" and '$(!CurrentUserInTeam("teamname"))
For the template I've attached a screen shot from a standard change. You can see in the red box where the Search and Link is performed for 2 servers and 1 application.
Hope this helps! Mark.