[Cyberphil]

Absolutely. Double click on the component you want to edit, or right click and click edit. You will then be able to edit the part with the rest of the assembly washed out. Then when you create sketches, you can add project geometry for any of the washed out parts. I have to use this with some of my designs rather than copying the sketch over to a separate part to get the same hole pattern or something.

Hope this helps!