There is nothing that would prevent editing text that is pasted from the clipboard. It is no different from anything in the clipboard. I have even copied an image into the clipboard on my iPhone and pasted it into a text on my Mac and vice-versa.
But how do you edit text once it's been pasted (or typed) into the tiny iPhone field, and with no cursor, to boot?
Thanks for mentioning images. My daughter just asked whether they could be transferred from device to device with Handoff.
