You could make the editor partly transparent; I do that all the time. Gives me a futuristic feeling to it; seeing the other applications in the background of my editor.
Put your editor on top of your wallpaper, make editor window partly transparent -> you've got what you want.
If you're on Windows (7), there's a program I'm using called Opacity.exe. Read and download it here ( Or download directly here)
*EDIT: Simple usage guide: ** Double click the *opacity.exe file to start it. Go to your editor and, while holding the windows-key down, scroll with your mouse's scroll wheel (you need a mouse with a a scroll wheel for this).
Hope that helps