You can't run a separate editor and the Designer at the same time yet.
I believe the above 2 points are simply due to the limitation that you can't edit your override concurrently outside of the designer at the moment.As I show in the screen shot, I was thinking that if add my own title attribute this should show up as my panel title when I run it.
Two points of confusion:
1) the title does not change when i run the project
2) when I press save project, my overwrite project change gets overwritten.
Hmmm. I did agree I was an advanced user when I selected this choice. Maybe it found me out and is somehow punishing me.