The good thing about loop handlers is that you can create as many as you like & unregister them when you no longer need them.
It's also possible to create loops internally via the editor with the jump to x action part action. The best method for this it to add the loop to a called by other action you have created containing the loop & action parts you want to loop; you can even add a pause action part to it if you want to delay the amount of time between loops. Called by other actions can be quit quite easily with the quit action action part or you can wrap loops with if queries containing a condition or value which will break the loop if the query is not met.
-- editor action parts (not lua script
-- x --
if condition 'action_area_active' is true
add some actions here to loop
jump to action part #1
-- x --
...this would create a loop, that will loop until "action_area_active" condition is set to false. So in other words when character enters action area you would set the condition to true & then call the called by other action containing the loop & actions you want to loop. To quit the loop you would on character leaves action area: set the condition to false.
I prefer using lua myself when possible as I find it much faster to type than selecting action parts one at a time from a list or the popup box.
@ Alex: As for (3) I believe he was talking about the code generated by the engine itself for his game.
The .ved project file can be opened with a text editor like sublime text or notepad++ etc, but it's not really code per say, it's more a list of id's & tables that translate into actions. Text such as names & scripts are stored in the .ved file also, however we recommend that you should avoid directly editing your .ved files with a text editor, if possible.
Finally: if you want to learn about lua scripting & scripting in Visionaire Studio, then I do recommend looking at the wiki as we have quite an extensive amount of scripting related pages, of which I'm constantly updating. I spend too much time on the lua related pages & not enough on the editor documentation.