very nice idea!

i like this.

has happened many times to me to forget bold or typing in something wrong.

And I dont necessarily have the time of waiting 4 hours before reposting.. cause of the bump rule. I usually bump/create my topics before going to work or so..
Nor do I feel like pm'ing some TM or what ever cause they got much better things to do then closing threads..

Being able to edit topic title/red/bold during the timeframe you can actually edit your own topic would be great.

Good Idea Toast.

PS: I like your sig and avart