[Plugin: Front-end Editor] Editing Live Shortcodes

Great plugin. However, is there a way that I could modify this to allow for live editing of shortcodes? For example, if I have the shortcode:

[half-width]content[half-width]

when I click edit, I’d just like to edit just the content and have it remain formatted while I’m editing. Can you point me in a general direction to get me started creating this solution?

Thanks.

http://wordpress.org/extend/plugins/front-end-editor/