In my opinion, while the title may be a big deal to you, the difference will not be very obvious to colleges. I was editor of my HS paper, and it represented little work and meant very little (unlike your position), but colleges didn’t know that! ESPECIALLY as you’re a skilled writer, you’ll be able to communicate to colleges how passionate you are about journalism and how the HS paper contributed to that (and you to it). You’re disappointed about the position and title, but I wouldn’t really expect it to impact college applications.