I'll restate here Jeff's answer in the analogous question in the mother meta for the benefit of any future users searching this meta with the same question.
There are a handful of conditions where we will stop accepting edits:
A large number of suggested edits by you were rejected in the last day (absolute value) - if banned you will be banned for a week.
We are out of empty slots in the queue (currently 20 120 200)
There is an edit to a particular post that was not approved yet.
You are not logged in and the post is less than 10 minutes old.
In the past no "edit" link would be shown at all; since July 2012 the edit link is disabled and the mouse hover tooltip will explain why an edit cannot be suggested, like "Account is not allowed to suggest edits".