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No, SilkTest scripts can be opened for viewing purposes in a standard editor such as Notepad, but for full editing functionality such as Collapsing/Expanding hierarchical structures you must use the SilkTest editor. Additionally as the SilkTest editor defines the hierarchical structure using TABS, if a script is modified by another editor, it may define TABS characters differently. As a result this will cause errors when the modified file is imported back into the SilkTest editor.
This does not apply to the classic 4Test style as it is structured in a plain ASCII format.