Is it possible to replace the default Composr emoticons with third party emoticons?

Please share the documentation or tutorial link, if exists.

Try this tutorial:

Composr Tutorial: The Composr emoticon system

Open Source CMS with advanced social, interactive and dynamic features. Fully flexible, themeable and extendible: suitable for building powerful websites.

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The emoticons can be managed from the Admin Zone > Style > Emoticons menu option.