Template-Builder.com makes it possible - now you can edit your Joomla templates online. You can now manage, store and edit your templates online, wherever you are.

The editor itself looks like a typical WYSIWYG editor. You just need to click on the element you want to modify and a set of options appears on the left toolbar. It's pretty straightforward.

No install or download is needed as the template editor is a web application. Excellent export options make this worth a try.