Because the editor is a plain cheating while the well is not. The well is a part of the game and you are entitled to drink from it - if you reach it. Another such case is the EI dragon. You can cheat in all the loot from the dragon by means of a game editor, too. You can also kill the dragon and get the loot without cheating.Both the dragon and the well are your goals in "level 1 speedgame, no deaths". Note that both looting the dragon and drinking from the well cost you time so that you must optimize between your power and the sacrificed time 
Naturally, it's a bad idea to drink the whole well only to show the world what kind of batman you are. IMO, it's not a good play style.
