Also, if you are able to fork over 500$ (it was still 750$ in my case), you can get hold of a company license and get some sources to the Editor, enough to create a "custom editor".....
With this you can create new kinds of brushes, or, if you're lazy like me, an automatic texturizer.
Sadly mine is still in development, and still has some teething problems, but besides some problems with the logic (I'm a better at programming than mathematics
), it does what I want: texturize the terrain on some rules, slope for rocks, and underslope for rubble in my case.
But creating an automatic routine just for altitude would be much simpler I reckon, you could do it in an hour or so.