I actually plan on returning to this editor. In fact, I went out and bought For Answer again just so that I can finish it. The problem I face is that I've lost my original source code, so I have to start over from scratch. This in itself wouldn't normally be that big an issue, but right now my other big editor (the chao editor for the Sonic Adventure games) is taking up a huge bulk of any free time I devote to coding. So that's the good news and bad news: I do plan to finish this editor, but I have to start over and don't know how soon I'll be able to start spending time on it.
My ultimate goal with this editor is to find any unused parts in the game. With a game like this, I'd be surprised if From Software didn't leave at least some kind of parts that were meant for game testing. And test parts usually tend to be overpowered as well (that being the whole point of the tests to begin with). If I do happen to find overpowered test parts, I haven't decided whether I'll add them to the editor or not; on one hand there aren't that many people online anymore and so you'd mostly only be able to use it with friendly private matches, but on the other hand there are still small communities that play this game competitively. Basically what it boils down to is this: if I see enough people playing ranked matches online then I won't release any test parts I find, but if I don't see (comparatively) many people in ranked games then I will. As I'm sure a lot of you know, I'm whole-heartedly against online cheating, and am only releasing an in-depth editor like this because the game is old enough that it isn't played so much competitively anymore. So that's where I stand on that.
Bottom line, the editor is still a go, don't know when, and there might be some parts caps.