I did not install the Theme Editor during the update, since I was one of those having installation issues. I really like the Tungsten theme. Is there any good reason I should add this?

It's something you can use to edit themes.
 
Whether there's a good reason to install it depends on if you want to edit themes or not.
 
HTH.

I updated specifically to get the theme editor. Seems to work well  - but it is pretty confusing to get into the deeper layers. No fault of the program - but it's deep and pretty detail oriented. There are a few You tubes on the subject out and about. The back and forth of editing and testing is kind of slow - but I had just tried a few minor things and hadn't gotten into the guts of it - nor established a routine to do this faster.

As you can use themes without the theme editor, there is no need to use it, unless you want to edit the theme yourself. The application is pretty powerful, and pretty much ranges from simple edits to full design.
 
The theme editor gives you access to setting the colours of text and and background areas, and to the PNG image files for things like buttons, knobs, faders. and sme of the 3D looking parts.The Control panel is built from a few layers of PNG files on a coloured strip. The console view is more coloured elements with PNG details.
 
To change the PNG files colours yu need a 3rd party graphics program that can handle transparencies. this can be a free simple app all the way the photoshop. But there is a library of a few details such as Fader caps in different colours, and differnt meter styles, you can switch between.  
 
Its very time consuming to make broader consistent colour changes, nd requires a little planning. But if the colour a font is bothering you, it can be a quick change.

Thanks for the replies. I can see that this is not something I want to get into. You have saved me some time and trouble!