-are you sure that you have assigned the material in your static mesh editor?
-which kind of error do you get in your material?
-what exactly do you have to edit?
-have you moved the content from another project into your own one? 
-are you sure that you have assigned the material in your static mesh editor?
-which kind of error do you get in your material?
-what exactly do you have to edit?
-have you moved the content from another project into your own one?