Um... there is an edit option. Look to the left, just below your name and the post datestamp.

As for the login thing, I don't see the problem. If it's too much trouble clicking the login button again if you happen to hit the timeout, then I really don't think LS is for you.

I'm on plenty of forums ...

And yet you don't know one of the most basic rules of forum use: don't bump old threads.