I made a content pipeline extension (using this tutorial) in XNA 4.0 game.

I altered some aspects, so it serves my need better, but the basic idea still applies. Now I want to go a step further and enable my game to be changed during run time. The file I am loading trough my content pipeline extension is very simple, it only contains decimal numbers, so I want to enable the user to change that file at will and reload it while the game is running (without recompiling as I had to do so far). This file is a very simplified version of level editor, meaning that it contains rows like:
1 1,5 1,78 -3,6

Here, the first number determines the object that will be drawn to the scene, and the other 3 numbers are coordinates where that object will be placed.

So, how can I change the file that contains these numbers so that the game loads it and redraws the scene accordingly?

Thanks