Third Party Assets (TPA) need to be approved prior to use but in many cases CAN be used per the rules. Answering more broadly so if other people have similar questions:
The general criteria is that TPA requests should NOT be things that students should reasonably be expected to do at their level (for example, character controller assets should not be used by skill center students) and shouldn't be such a substantial part of the game that students weren't responsible for their own key features. There should also be no "licensing barriers" involved in using the assets.
Given that, after review we feel comfortable approving the "Editor Cools" asset for use in the contest, providing that it is cited as being a tool used in your credits and/or documentation. Although that is not a hard requirement of the asset itself, it's part of our rules for TPA use.