In development since 2011, Frostbite 3 is an improvement of Frostbite 2 and will debut with Battlefield 4 in 2013. It only supports DirectX 11 on PCs. It also features in-game destruction with Destruction 4.0 which upgraded from Destruction 3.0, and it features an entirely new tessellation technology. Frostbite 3 is described by DICE as an upgraded version of its existing Frostbite 2 engine, designed to create a "dynamic, human and believable experience" and allow for improved animations, destruction and AI.
Currently the Editor will get developed of the base from Battlefield. Battlefield 4 is the "Core" game of the Frostbite engine and the most of other games have used it as the base. Modification with all Frostibite 3 games is not possible yet. Its planned to be a Frostbite 3 Editor and so it will be!