(LightWorks functionality is available with Only with the LightWorks Plug-in)
You can access material properties via the Material page of an object's Properties window (see Object Properties), or by using the Materials Palette.
...
Material: The list of the materials available in the selected category.
Available In: Shows
Opens the Materials Editor. See Editing which of the render engines have definitions for the selected material.
Edit... Opens the Render Manager. See Materials.