It is an observable cell running inside observable that can edit other cells in the notebook without going through Observable's editing interface. ie.. if I export the enclosing notebook, it retains this editor.
Its like Obseservable, but implemented in userspace. Sorta pointless if all you want to do is use Observbalehq notebooks in the expected workflow, but quite powerful if you want to edit off platform (if there was a method to persist the results), or do program synthesis (its scriptable). Thats the plan anyway, still a WIP (hence only a devlog entry)