'Show In Windows Explorer' RMB Option

In iTunes, right-clicking on a track allows a user to show an object in Windows Explorer, opening a Windows Explorer window and highlighting the file within the particular folder. I would love a similar option in MP3Tag, as some fields like Encoded By are not currently freely editable in MP3Tag (as far as I'm aware anyway) and having a direct link to the file in Windows Explorer would speed things up in these situations.

Thanks

Are you looking for something like this:

Yes, it is editable. Add the field in the tag panel or as a file list column. The field trip to the Windows explorer to be used as tagging tool is counter-productive as I think that it removes user-defined fields, also some file formats like flac and wav suffer from only spurious support.
See the help on supported fields