I'd like there to be a third button here, for Admin(s).
While going through Configuring Solutions, for v12, I can't help but think of a very convenient 3rd button right here to eliminate navigating to an Item Type's definition:
[Currently] Administration > ItemTypes > Enter search text for IT, find and finally open to edit... could also be:
[3rd button] Click (Edit | View | Goto) ItemType
I think this would be especially useful for admins as they need to check on TOC settings, or set sort rules, and on and on... Just click the [proposed] button!