Yes you can edit protected saves with a hexeditor. I did this with my game saves to back them up properly. There is a guide on the forums here to help. I am sitting at the post on my Droid X and not at my PC to find the exact link right now but I'm sure you can find it. If not I will come check back later and post the link.
PS3 CECH-2501A [CFW] & CECH-3001 [OFW]/ PS2 SCPH-3901 & SCPH-7501/ PS1 SCPH-5501
Mod Cobra 4.46 v7.00 w/ E3 Flasher [CFW] & Cobra ODE 4.50 [OFW]/ Mod HDD-OSD [Phat] & Modbo 4.0 [Slim]/ Mod MM3
HDD 1tb [CFW] & 640gb [OFW]/ HDD 640gb & OPL v0.92 w/ 1.5tb SMB