Hi Scott...
LTM doesn't come with a built-in Citrix monitor. So it's a custom one. Which means (Unless you've created your config vi an iApp and have strict updates enabled - i.e. made it read-only) you can customise (Edit) to your hearts content.
If you have created your config via an iApp and have strict updates enabled, then no... you can't edit it. Because it's defined in the iApp and strict means it has to be the same as the template (iApp). To edit it, you'd have to edit the template and re-deploy. Or disable strict updates and then you can edit the created objects as you like.
H