Ok Alex, it's a biggy, but could be very useful, and not so difficult to program (Atleast I don't think so for your standard).
Right, it's an ASL editor, similar to textpad/notepad or whatever, very simple design layout, open, save, save as... and what not, all the basic do-da's and gizmo's. Syntax highlighting would obviously be the main standard feature, but what would really be helpful, is an auto-correct function that adjusts your ASL code automatically to fix small errors in the syntax.
Basically, how Visual Studio 6.0 works....
If you were to type
msgbox"hello world", the program would automatically create a space between
msgbox and
"hello world, and tidy it up a bit to form
MsgBox "hello world".
You could also add a little function that checks if a bracket is missing an end bracket and other things to help fix the code instead of resulting in run-time errors.
And just for fun, you could make a "ScriptTidy" program which adjusts all the ASL code so it's properly indented and spaced

haha