If you want to edit an account’s name and details in YNAB you hover your cursor over the account name in the left side menu. This causes an icon to pop up to the left in front of the name. Clicking on that icon makes an edit window pop up.
The Toolkit for YNAB allows you to hide that edit button with the Hide Edit Account setting. If you hide the pop up button, you can still edit the account by right clicking on the account name.
I have a hard time seeing any real value in this setting. Maybe there’s a case for budgeting with someone who prefers a different naming style than you do and
you’re a control freak you want to make it a little harder for them to change things? Maybe you constantly hit that little icon instead of the account name so the edit wizard pops up when all you wanted was to view the account register?