I was searching for a Velocity editor plugin for Eclipse Luna but I could not find any. I found couple of editor plugins like:
Veloedit worked, following the installation instructions from their github page: https://github.com/vaulttec/veloedit
Installation
Online updates are available from https://raw.githubusercontent.com/vaulttec/veloedit/updatesite/. Define a site bookmark in Eclipse's Update Manager view, navigate to the update site via this bookmark and install the Velocity UI feature.