UICollectionView for Springboard like folders
To get around it I would lose the library and cause iOS to move those display elements around without screenshots or other tricks. On the tap, cause the tapped icon to retain its normal appearance while you dim all the others. Find the contents of the collection view from the top to the end of the line where the tapped icon is. Create two new collection views - one which contains the top half, including your tapped icon and one containing the rest, below. Animate those views apart to make room for the folder view.
The folder view is another UICollectionView that appears in the gap created.In the main view there are either one or three views presented depending on whether the drawer is open or closed. I would probably look at creating a view controller with a collection view, and using view controller containment to manage all three views. You have complete control over how those views are presented, so you could animate top and bottom views up and down simultaneously to reveal the folder view in place, as Springboard does.
When that's all working then you could generalize and start doing things like deciding to make the tapped icon part of the bottom collection with the folder appearing above if the icon was low on the screen.
(I hesitate to answer this because of the large number of upvotes yet no answers, so I may have missed something - but that is how I would begin trying to achieve the Springboard effect.)
To solve this problem in a relatively easy way, you could try to make the folder a simple UICollectionView subclass and then insert that cell when the albums cell is tapped.In the collection views data source you would have to return different size etc. for the folder cell.In the folder you would have to create the folders collection view, avoid making the folder cell the data source of the cell folder collection view tho.