It really helped in my case in translating another PSX game. Having to deal with tables, hex and related shenanigans gives me the shivers, ew. I'd rather edit textures.
Just as an FYI, every file that you can see with jPSXdec can be extracted for editing. You can edit the images with Photoshop or GIMP. You'll need TIM2View not only because it allows you to view uncompressed TIM files but also because it allows you to replace them.
But TIM files have important metadata like a header with X and Y coordinates and the CLUT, which need to be identical to the original file for them to work after re-insertion.
And then there's the colors, most of the time they should be 4-bit, which means 16 colors per texture (they're indexed, not RGB). I use GIMP for that, the only annoying part is copy each color to form a new color palette to assign to an edited texture. Two important settings are: uncheck "remove unused colors from colormap" under Image->Mode->Indexed>assign custom palette (this is when you change the bitmap image to Index) and then when you want to export it under Export As.. as BMP (what I use, dont know if PNG has the following option), check Do Not Write Color Space Information under Compatibility Options. These two are very important, don't know where they are in Photoshop, but it has them too most definitely.
For now you can start looking for what you need and translate the text, it helps to have tangible results when looking for help.