Can you just edit the texture by editing its dds file?
Yeah, but it's always good to see the retextured model in nifskope.
1) Go (in nifskope) to render->settings, and click the rendering tab.
2)Click the add folder, and set the file path to your textures folder. Also, make sure the textures box is checked.
3) Open the model, and see if the textures are showing.
Troubleshooting:
Press F2 to open the block list. Are the textures you want to edit tga or dds? Change the texture paths to use the correct file ending. (dds, tga, bmp, etc.)
If that doesn't work, Also add the data files folder in render->settings (in addition to the textures folder).
Make sure the textures are extracted.