Expanded Zoom Text Editor
 

Would like to see an updated version along the lines of this:

[url=http://farm4.static.flickr.com/3250/3000025554_48ff94e1a5_o.jpg][img]http://farm4.static.flickr.com/3250/3000025554_61d856eda2.jpg[/img][/url]

That is a rich text editor, not a text editor, so such a thing would not be possible.

Most text fields would not support the "bold" etc.

Gotcha.

I was wondering if it was possible.

What could work, however, is if it added markup (as used by forums) to your text instead...