The Template Explorer provides a list of your CodeSmith templates arranged into folders, similar to the list that you'll see in CodeSmith Explorer. You can navigate to the Template Explorer by selecting Template Explorer from the View menu or by pressing Ctrl+Shift+X.
In fact, you'll find all the functionality in Template Explorer that you're familiar with from the standalone CodeSmith Explorer. The only difference is that when you right-click a template and select edit, it will automatically open in CodeSmith Studio even if you have specified a different editor from the CodeSmith Explorer toolbar.
This feature is only available in the Professional Edition of CodeSmith.