I believe it is an essential feature to receive notifications when a user edits someone’s submissions.
I just came across an edit that I did to one of @indy133 submissions which I completely got wrong at the time. I have just righted my wrong.
If there was a notification system in place then there is a good chance that it would have been picked up by indy at the time.
Everyone makes mistakes (I make plenty) and it is vital that there is a system of review.