You can always try using Navicat. It makes editing Mysql simple and straight forward. Once you look at your faction tables, they are pretty easy to understand. But, ya I think you need to restart your server to get new factions to take. You don't need to edit an existing one, cause it is pretty easy to just create a new one.
If you edit an existing one, there is a chance that it is probably used on another NPC and could therefore potentially be used to cheat on your server. Like, if you used the faction for orc pawns, and changed it to a new faction name, the orc pawns would all still be set to use that same old ID. So, if you have to kill something high level on your server to gain faction you modified, players might eventually figure out that they can just kill orc pawns instead.
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