a faster way: select the folder in the folder list, hold the ALT key and press in sequence : V S Hthat's using the shortcut keys to issue those commands ( ALT + V = view ; ALT + S = sort ; ALT + H = non threaded )
the dumb thing is, you have to do the switch for every folder individually. i don't know who remove the account-wide option switch, but they deserve a penalty.
select folder. above the actual message list, you have a header. there's something "quick filter" and to its right, a funny icon. click on it, and you'll see the option.