I am having the same problem. The instructions for creating ringtones say to use it, but it's not there. Will somebody please help. I cant take my stock ringtones another day!!!
I think the newer versions don't have it. I have 4.5 and I don't see the option.
The "edit" option is gray and I'm unable to select it when I highlight a file.
I believe the previous version I had prior to the upgrade to 4.5 was 4.1 which did have the QSE in MM.