I have a python wheel package, when extracted I find some python code, I'd like to edit this code and re-generate the same .whl package again and test it to see the edits .. How do I do that?

Wheel provides the wheel command in addition to just setup.py bdist_wheel. Use wheel unpack [file.whl] to open the wheel, edit what you will, and then use wheel pack [directory] to put it back together again.