Can't speak for Ole but it does seem to be abandoned. His last Twitter comments about it suggested it may be too much work to get it updated the way he'd like.
But, as I moved to Editorial from Drafts, so must I move to another. I won't go back to Drafts and don't like iAWriter so I've picked Taio. Not perfect and still rough in some spots but, for me, it's an acceptable replacement for Editorial.
Of course, it uses the standard iOS method of selecting text but I'll cope. It offers iCloud and Files support. I haven't checked into Shortcuts integration or URL Schemes yet.
Other users will have other ideas, of course. Some are sticking with Editorial because there are none better and have gotten iCloud support through "Open in..." methods to save documents and Shortcuts/URL Schemes/clipboard methods to get copy from iCloud into Editorial.