cannot view my iPod music list in iTunes

Do you have the check box for "Manually manage music" checked?

Click the gray disclosure triangle in front of the iPod touch name.

Thus I cannot do any functions with the music on my iPod - such as delete songs, update song info, etc.

I would suggest making any changes to songs in iTunes and then transferring the songs to the touch.
You can create playlists and autosync on lythos playlists.
Then add/delete from those playlists, update items in iTunes then plug in the touch to sync it.