I forgot player select text is stored in MainCfg format, not S_Skin format. That's my honest mistake there. But additionally, that wouldn't allow altering text, so he'd have to disable "change-wanted" characters. If we say he wants to edit Sonic's text, but not Tails', Knuckles', or Sonic & Tails', yet still want it in order, he'd have to disable the four main entries, add a custom Sonic entry, then add the vanilla other entries. Totally possible, of course, I just forgot that.
But if he means anything in S_Skin (such as changing K.T.E in Knuckles' HudName to Knuckles), some of the stuff (see the example) can't be altered through SOCs nor Lua. Even the HudName can't be altered on-screen as far as I'm aware (at least not without a huge lot of Lua).