At one time, it was possible to link Arbortext to the debugger in Eclipse, letting you do the sort of thing you are asking about. However, the developer who showed it to me hasn't been with PTC for a few years, so I don't know if it still works with the current versions of Editor. I don't remember if that info ever made it onto this list, but it's possible it did--you might have some luck if you search the message board for "eclipse".
Personally, I tend to rely on a combination of response() and the eval command to generate debugging messages, and that gets me pretty far. The eval command is nice because it doesn't block execution the way response() does, it writes messages to a message window.