Check validate callback. May be it will help you. validate will trigger when you click on the OK button.
Read here. http://x-editable.demopage.ru/index.php?r=site/widgets#Options
Try like this
<?php
$this->widget('editable.EditableField', array(
'id' => 'drop', //ADDED THIS LINE SO I COULD GET THE SELECTED VALUE BUT I GUESS I'M WRONG
'type' => 'select',
'model' => $model,
'attribute' => 'category',
'url' => '/school/Materials_Photos/View',
'source' => Editable::source(AssetCategory::model()->findAll($criteria), 'id', 'category'),
'placement' => 'right',
'validate' => 'js: function(value)
{
console.log(value); //The value you are selecting from x-editable dropdown
if($.trim(value) == "Somthing")
{
//Your functionality
}
}'
));
?>