The shader editor is the Materials Editor. You can go into the materials editor and change all the little shader settings for any material in the game.
It's quite easy actually, all it involves is a few sliders and checkboxes here and there.
I think you first need to open up the Gamedata.pak file outside of sandbox with WinRAR, extract the materials folder, disable the fact that it is Read-only, and re-place it inside your gamedata.pak archive to get it so you can edit the shaders already included in the game (make duplicates though, editing the shader settings for the default materials WILL affect the material across ALL MAPS in Crysis).
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