I am using 'show related messages' to enable conversation view in my apple mail inbox on mountain lion. I also have a bunch of imap folders, but this setting seems not to apply here. However, I can enable it for a single message using the 'show related messages' item in the view menu. This only seems to affect the preview pane for that message (i.e. I don't get a count of related messages in the message list) and resets to the normal single message view if I navigate away and back again.
Does anyone know how I can enable this by default for imap folders?