I've only modded a few times, but assuming it's not too different, I'll tell you what I know.
The TESCS (as it was previously) can make new NPCs/Worldspaces/etc. using game models. If you wante to take a shield and just give it an enchantment, that's a piece of cake. Recoloring involves copying the mesh and texture out of the game files, which you couldn't do without outside tools in MW/Obl, and then changing that with image-editing software. There is the old TESCS Wiki to go through projects of different complexities. That wiki was really helpful, so I'd assume that something similar would be introduced.
However, as an XBox gamer, I never really did much except for a bit ob Oblivion, which I had for PC. Therefore, I'm by no means an expert like some of the modders you see at the TESNexus, but I could still do some basic things due to the ease-of-use of the tool.