I hope you don't give up. I never posted back on this, because I'm not sure yet if I have an answer, but I can tell you what I did. I copied the folders from ..\Data\<modName>\Levels\ to ..\Data\Editor\Mods\Levels\ and I was able to edit the terrain for 2 out of the 5 levels I have in progress. Sadly, those were the two I had spent the least amount of time working on.
I tried this because one of the hints I received from attempting to edit and save level data said something about the editor not having access to the terrain data, so I made a Mod folder in the Editor folder and stuck stuff in there. I have been recreating my main level terrain and saving often, and when I saw your post tonight I checked both folders and it seems I got lucky and both folders have terrain files with today's date as the date last modified, and very similar file sizes for Terrain_00.data
Let me be clear: I tried MANY things... this is the one I *think* worked, but I can't be sure, which is why I don't want to call this a solution.
Raze helped me sort out some other problems I was having, and he said they are really close to finishing up additional editor features and great new stuff for us... I chose to believe this means very soon and I am excited
I can only hope that what they are working on right now fills in some of the gaps and gives me more tools to make my mod better than I ever hoped.
In the process of learning the editor, to the extent that I have so far, I have lost a bunch of work. Thanks to my own sheer stupidity, I lost the entire level for my first efforts at creating a mod, so about a week and a half's time right there. Each time I lose stuff, I tell myself that every time I have had to recreate my work I have always made it better and that I am getting better and faster at it. Yes, it is frustrating, but learning is hard and it takes time.
I'd like to think I'll be close to finishing in two weeks or so, but today I wiped out a huge forest area *twice* (on purpose) because in building it I figured out a way to make it better.
This last bit I am saying just in hope that it will help curb some of the frustration. I hope you keep building and rebuilding and that you eventually get WAY more than you hoped for when you started on this.