Whisk together the peanut sauce, 2 tablespoons water, the soy sauce, hot pepper flakes and lime juice in a large serving bowl. Set aside.
Bring a large pot of water to a boil. Stir in the noodles, edamame and bell peppers and cook according to the noodle package directions, or about 4 minutes. Drain the noodles and vegetables. Rinse under cold water to cool; drain well. Transfer to the bowl with the peanut sauce and toss to evenly combine.
Top with the cilantro leaves and sprinkle with sesame seeds. Serve at room temperature topped with lime wedges for squeezing.
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