The relevant section is under "Execute and debug your tool". I've added the path to the EXE for the IDE in the Geoprocessing Options dialog for both "Editor" and "Debugger".
I have not been able to get the debugger to attach to the ArcMap process, however. I've tried both PythonWin and PyScripter and I can edit python scripts through the ArcGIS interface (right-click on a script tool, then select "Edit"). But when I try to run a script tool in debug mode (right-click on a script tool, then select "Debug"), the script runs fine, but the IDE never launches.
I was really hoping to get this working as it would make debugging a lot easier, without having to hard-code references for parameters to get the IDE to debug in stand-alone mode.