The Material Editor helps out in creating new materials to be used in games. It can be run as a standalone app or can be invoked from file inputs in other editors when pressing the '+' button.
When run, the first screen we get to see is like this:
Each part of the screen has a specific function, as follows:
This is a menu bar, just like in any other windowed application. Available options for this particular editor are as follows:
This group contains inputs to control basic properties for the currently edited material.
This group contains controls to add and edit UV texture coordinate animations. Displacements, rotations, etc can be done using these.