I suggest an elegant alternative to the default Edit option for attributes, using http://drupal.org/project/editablefields
First fix Recoverable fatal error: Argument 1 passed to drupal_array_get_nested_value() .. called in editablefields.module on line 315

After installing the above extension, we need to configure the fields included in the corresponding option sets.

In our use case, you cannot setup the formatter to editable in the view, due to the fact the subfields of options sets aren’t shown in the view directly, but via product attributes custom handler commerce_product_attributes_handler_field_attributes.inc.

In order to overcome this, just go to the admin/commerce/products/option-sets/manage/your_option_set/display, bellow under custom display settings check Attribute View, then in the top right corner the tab “Attribute View” will show up. (admin/commerce/products/option-sets/manage/your_option_set/display/attribute_view).
Here, choose form the format select list “editable”. Do not check “Click to edit” in advanced setup. This setting shows up in the Product Attributes field type.

Here you go: Nice editable ajax field right in the view.
So far so good, but....

It works like a charm for admin/structure/views/view/commerce_cart_summary/edit, Shopping cart summary view, path /checkout/% and other views that doesn’t involve form in form.

It doesn't work for admin/structure/views/view/commerce_cart_form/edit ( aka Shopping cart form), path /cart. Just cannot update cart or do checkout
My guess is that this bug is related to the form in form Known problems reported on first page at http://drupal.org/project/editablefields
However is even stranger since including directly a dummy field, with editable formatter in the shopping cart view works also.

As a conclusion: the failure combination is shopping cart form+editable+product attributes field( the subfields are not shown directly in the view with relationships, but with custom handler).

See also:
#1389782: 'Link to product' views field display option does not work
#1461660: Can't edit line item options