I don't know the details of your project, but I think it's very likely. OpenGL shouldn't be a problem, since the IDE is just a regular program. It's possible that launching the IDE could be an issue if the OpenGL libraries are missing - this depends on the implementation of the library bindings.
At first glance, I imagine the user clicking "Create sprite" in the menu, and a modal editor window opens in the IDE. They finish editing, click "OK", and the user returns to the IDE, seeing the new unit in the Code Editor. Of course, this is just an example.
The question is whether this would actually be better. For example, a separate program currently allows you to work even without an IDE. Theoretically, sprites and levels could be created by people other than programmers. So, in some ways, the current solution is even more logical.