In all honesty, I was just about to test my own changes and my internet is being a bit slow. I'd like more information before downloading, please.
That said, the title DOES sound promising.
Edit: Okay, I'm downloading, https://www.mbrepository.com/file.php?cid=1&id=1091 seems to be a better link though.
EDIT2: Alright, I've given it a whirl, I'll try to provide a bit of a report. I started with new game -> father was impoverished Noble, and I got a screen which looked a bit confusing but was actually quite easy to use. I made a simple banner with two charges;
Then after a bit of looking I found the "accept" button. After clicking the "accept" button I went to the face creation screen, made a face, accepted it, went into game just fine, but I got
no banner.
Ofcourse, that was a bit dissapointing and I hope it'll be fixable. Luckily however, it seems the whole banner selection screen only shows up when starting a new "son of a nobleman" character, it doesn't show up with other professions (Though I haven't tried them all) and it doesn't show up with the Custom battles, so that's fine.
I'm now gathering a small army to gain enough reknown to become a vassal with banner, so I can see if it's possible to get it then.
I hope it is possible, because it's a quite good editor!
EDIT3: I took Maras Castle from the 'doks and I got asked again about a banner, I got the same banner creation screen, simply clicked accept, but I got no banner. I forgot, does it normally take time after selecting a banner that way before you actually get it?