If you firstly installed WPBE and want to edit post formats you will see that there is no terms there. Do not create them! Create new test post and clicking each post format press save button. Now you can see this terms in Posts Editor. Sure it is crooked way but it is not depend of the plugin functionality but of WordPress API – posts formats works as taxonomies, but some time ago they wasn’t taxonomies and terms of it will be appeared if use them minimum for 1 time from edit post page.