I'm a student at Erie Community College in Buffalo NY, which uses the Blackboard system, especially for the many "online only" classes that are offered. I'm unfamiliar with any parts of BB other than the student interface, but I do understand the instructors have some additional content editing controls that I've only seen when my instructor uses them while her laptop screen is up on the projector. It reminds me of the WordPress system, which I used to design with at a company I used to work for.
I've attached an annotated screenshot to give an idea of what I have in mind.
Is this type of customization possible?