Using routines released by Freak here:
http://www.purebasic.fr/english/viewtopic.php?t=16968
And some javascript written by me (this, being translated, means klunkie code)

It shows how we can expose the DOM of an html document and so use it to do WYSIWYG editing.
The file is available here:
http://www.gemcutters.net/pbOddments/wysiwyg.zip
It contains source purebasic and js/html. You will need to remove the end from the purebasic to make it run.
I have had a few private messages recently asking if I had a solution to WYSIWYG. I do, but they all cost money.

So I klurged this.
I have forgotten who all I spoke to so if you contacted me then I hope you see this and I hope it helps.
On the "hope" front:
Hopefully this has merit - and if so, then hopefully smarter programmers than I will evolve this into something worthwhile and share the evolutionary process with us all.
I believe that because the DOM is exposed just about anything can be done via this approach, from basic HTML editing to full CSS driven editing.
Note: It is not a full blown HTML editor, just a proof of concept.