Right now you can't change the thread title, which I found sometimes very annoying. I understand there is a risk, that somebody may... joke with this feature, but sometimes I really need to change the title, when for example, I get my product etc. ready, I can put (FINISHED) in the title.
I think it would be very helpful if you could edit them within a few minutes after creating the thread, so you can correct spelling errors. But I'd rather leave that "finished" stuff to closing and renaming made by moderators. Otherwise I have the fear that things could get very confusing if some guys decide to be "funny".
There is several parts to getting it to work. Even though VB says users can change the thread title, and if they go and try to edit it, nothing happen. Also I believe there is a timelimit before you can edit the title or not, but it is in stages or something. Within the timelimit you can change the title in both the thread listing and the actual title when you goto read it. But passed the timelimit you can only change the title for when you go in and read it. Not sure if it is a bug, but it is strange because sometimes if you click on a thread in the list that says "Skins here" or something, and then go into it and read it, the title could say something like "Visit my site for skins" because the user edited it later on. Totally throws me off sometimes....