Toggle a material in the editor

I was wondering if it is at all possible to do a material switch on a gameObject in the editor based on whether a specific script is active on it or not. It is basically just so I can visualize my levels better really as designing them on the larger worlds without it is going to be a huge pain in the arse.

Yes its possible , you can make the script execute in edit mode.

Js:
@script ExecuteInEditMode() // Paste this line at the top of your code 

C#:
[ExecuteInEditMode] // Paste this line at the top of your code 

This will end up reflecting your changes in the Editor itself without hitting the play button.
When you enable/disable the scripts , the change in the material will be reflected in the Editor.