You should receive a notification whenever someone else edits one of your posts. If the edit is inappropriate, you can revert it or re-edit it. "Edit wars" do happens sometimes, but they're discouraged, and you can always flag for moderator attention if it comes to that.
I didn't realize how much edit comments (description of changes) mattered until I saw some of my deleted/unapproved edits. E.g. Editing an answer to add an environment variable that was actually required was denied. I ended up writing it as a comment and had someone thank me for it in the comments. Had the edit been accepted there would have been less comment spam and more "good answer" on that page...
