I've done it, it just takes some time and trial and errors.
I got a massive high score on my galaga machine, then fubared the initials entry (put in NOR instead of NOP) and just HAD to fix it.
The data file is a binary file. Using notepad on it will more than likely wreck it.
Use a hex editor instead.
Each file is probably different in its layout, because (I believe) this stuff is just dropped into the ROM's memory area when the rom is loaded, so depending on how the game stores the data.
Before editing the file, wait for the leaderboard to be shown on the screen, then write down the scores and initials for all the entries. Then hex edit your file.
Here's the layout of a galaga.hi file:
000000 00 05 08 06 04 01 00 00 06 02 03 01 00 09 01 02 [hex characters here]
000010 09 24 00 00 02 08 06 24 00 09 09 03 06 24 0E 10
000020 18 17 18 19 17 0A 11 17 0A 22 17 18 19 00 05 08
000030 06 04 01
You should be able to find the scores in the file easily enough, in my galaga file, each digit was simply stored as it's own byte in the file, and they were (IIRC) stored backwards and in decimal. 146850 is the current high score, 132600 is the next lowest, etc.
(and no, this 146850 was not the massive high score that I was referring to.
)
The initials were stored after the scores were, and you can kinda make out that the sequence of 17,18,19 is equal to NOP (consecutive letters).
It'll take some time and futzing with, but it is doable.
Just make a backup of the file so you can always undo your mistakes!
-jeff!