+1  A: 

Use the ReadOnly attribute. This marks it as design-time read-only while keeping it read/write for runtime use.

Also, you should either apply the Editor attribute to the type rather than the properties. There's no gain in applying it to a property if you don't want that property to be editable.

Jeff Yates
In the example, notice that I did use ReadOnly attribute.And this is for use within the property grid during run-time. So, am I just out of luck??
Jerry
I can see that now. However, I suspect the EditorAttribute declaration is taking precedence. You should apply that attribute to your FactoredAreaMod type or only to the property that actually should be edited.
Jeff Yates
+1  A: 
Jerry