As far as I can tell, the text editor is the new name for the box for making posts. I don't think there is any function for editing already created posts, although I would fully support such an addition.
I might be an adult, but I'm a minor at heart.
♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥♥ Ban All Noobs Campaign '06
since when are orange, yellow, pink, and red colors?-Anathema