The "home" database is a flag (of sorts) in the UserBookmarkOrder outline, but it's not accessible via LotusScript or the published Notes API as far as I know. The way you set it in Domino Designer is to use a weird Shift-click combination on the outline entry:
http://www-01.ibm.com/support/docview.wss?rs=475&uid=swg27003219
Interestingly enough though, I think that if you copy an outline entry with that special flag set, it will retain the flag when it's pasted. You might want to play around with that. Other clues here:
http://www-10.lotus.com/ldd/46dom.nsf/ReleaseAllThreadedweb/b50cb5690c89707b85256baa0055c018?OpenDocument