There's a few issues that have come up in regard to the editor. We still have some work to complete both in the editor and in the front-end. Here's a few things that have been asked about that will be done.
Water- we never did much with water as we have been putting that off until we did ships. So coastlines aren't done and water doesn't have any special properties other than splashes from bullet strikes. This will change, so don't worry for now about your coasts being all sharp and jagged or your planes being able to land on the water.
Textures- we are planning to go to an open source for our terrain texture maps and build up a library of different terrain textures. The system will also allow 4 different sets of textures allocated per terrain. This will allow a single terrain to have different looks in different seasons without having to build a separate version of the same terrain.
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Doug "Pyro" Balmos
HiTech Creations