It is possible to define SET ROLE or ALTER SESSION SET EDITION commands to be run automatically for every session that Toad creates? (4333819)

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Toad for Oracle 12.9 will have a new feature that will allow to manage this.More details of this new feature can be found below:

In Toad Options | Oracle | Roles and Editions, you can now define SET ROLE or ALTER SESSION SET EDITION commands to be run automatically for every session (both main and background) that Toad creates. It can be configured by User, Database, and Role or Edition, and lets you select what to do if there is an error (abort/message/ignore). You can specify * in the User or Database fields as a wildcard.

Note that is you want to use the Schema Browser then you need to turn off the threaded query options so that everything happens in the same session (Toad Options | Oracle | Transactions | Execute queries in threads).