Bleached-look craze has editor hooked (5)
I believe the answer is:
faded
'bleached' is the definition.
(I know that bleached can be written as faded)
'craze has editor hooked' is the wordplay.
'craze' becomes 'fad' (synonyms).
'has editor' becomes 'de' (I can't explain this - if you can you should believe this answer much more).
'hooked' means one lot of letters goes inside another (inserted letters are hooked or caught inside).
'fad' placed around 'de' is 'FADED'.
'look' acts as a link.
This may not be right. It may be part of another bit of the clue.
Can you help me to learn more?
(Other definitions for faded that I've seen before include "Washed out" , "Lost freshness or colour" , "Gradually disappeared" , "Bleached or deteriorated" , "Lustreless" .)