Yup! At the top of the thread, you'll see a "Thread Tools" dropdown menu. Hover over that, and then click "Edit Thread", which allows you to change the title, content ratings, and posting expectations.
CVs and Staff have elevated privileges with the Edit Thread feature because of Diana's tinkerings causing some unexpected behavior. Most members are not able to access things like the OOC/IC link, content ratings, et cetera after posting the thread. If you have a concern about such a parameter, send in a Thread Moderation Request with specific instructions as to what you'd like changed, and we'll see what we can do! :D