Hi Ryan,
Unfortunately, currently only super users or creator of the categories can edit the categories from the frontend.
Right now I have a category with a post that is dated 3 years into the future so it remains on top and users can edit it
Do you mean that you are using this post as the category description because it can be edited by the public?
EDIT: If you want to allow a certain user group to create categories, you can edit their ACL permissions in the ACL page(
http://take.ms/UcTMZ). Do note they can only edit their own created category, whereas super users will be able to edit all categories.