|I haven't used PixEdit, but I'll toss out the name Pixie for your consideration.|
It's not the same thing as PixEdit but it's a pretty neat application in its own right.
When you have Pixie running, you can move your cursor over any pixel on your screen, in any application, and determine the exact RGB, Hex, etc numbers for the color of that pixel.
It's great for duplicating colors in apps like PowerPoint, FrontPage, etc. Let’s say you download an image from the net and want to hide a section. You can create a shape, fill it with the exact color of the surrounding area and cover the unwanted object. How's that commercial go? It's like it never happened!
I use it all the time to clean up presentations.