I hear ya, it is quite unfortunate. Since it's not technically a "bug", and more of a "removed feature" I don't have much hope that they will implement it into this new version. But rumor has it that they are adding a free cursor to the inventory interface on the next update, so they seem to be listening to people's complaints. They've always done a pretty good job at this, although sometimes it takes a while for them to respond, as per normal when you run a very busy company that has had Microsoft breathing down their necks since the takeover. *sigh* This is just my luck though. All my favorite games seem to get crapped on at some point. The saving grace with Minecraft, is that they are always working on it, whether it's improving or not is solely up to personal opinion.
Also, I tested the online/offline thing. It does actually pause the game if you are set to "offline". Stays live when you're online though, that sun just keeps on moving. This was tested on my XB1 edition, I'm not sure if you can do the same on other platforms.