WordPress editor, change code wrap (bbpress?)

put this code in functions.php

add_action('wp_footer','ravs_codeTag_fix');
function ravs_codeTag_fix(){
    if ( bbp_use_wp_editor() ) :
    ?>
    <script>
        jQuery(document).ready( function() {

            /* Use <code> instead of backticks for the Code button in the editor */
            if ( typeof( edButtons ) !== 'undefined' ) {
                edButtons[110] = new QTags.TagButton( 'code', 'code', '<code>', '</code>', 'c' );
                QTags._buttonsInit();
            }
        });
    </script>
    <?php
    endif;
}

Note:

bbpress plugin overwrites the code button behaviour ( of wordpress editor ) by putting some script in head.You can find this script in bbpress->templates->default->bbpress-functions.php online 219

Updated:

1).If you want to customize wordpress editor then you can explore it by going throw WordPress QuickTags API (quicktags.js) and Tinymce WordPress codex.These documention also have good tutorial link which guide you practically.

2).You can use WordPress Plugin AddQuicktag for editing WordPress Editor.This plugin make it easy, Quicktags add to the html – and visual-editor.. It is possible to ex- and import your Quicktags.

Edited:

paste below code in functions.php.

add_filter( 'bbp_new_topic_pre_content',  'ravs_bbp_code_trick', 10);
add_filter( 'bbp_new_reply_pre_content',  'ravs_bbp_code_trick', 10);
add_filter( 'bbp_new_forum_pre_content',  'ravs_bbp_code_trick', 10);
add_filter( 'bbp_edit_topic_pre_content',  'ravs_bbp_code_trick', 10);
add_filter( 'bbp_edit_topic_pre_content',  'ravs_bbp_code_trick', 10);
add_filter( 'bbp_edit_forum_pre_content',  'ravs_bbp_code_trick', 10);
function ravs_bbp_code_trick( $content ){
    $pattrens[0]='/<code>/';
    $pattrens[1]='/<\/code>/';
    $content = preg_replace( '/\`/','backtick_place', $content );
    $content = preg_replace( $pattrens,'`', $content );
    return $content;
}
add_filter('bbp_get_topic_content','ravs_bbp_prevent_trick',51);
add_filter('bbp_get_reply_content','ravs_bbp_prevent_trick',51);
add_filter('bbp_get_form_forum_content','ravs_bbp_prevent_trick',51);
function ravs_bbp_prevent_trick($content){
    $content = preg_replace( '/backtick_place/','`', $content );
    return $content;
}