I heard that you can controle now every part of a textfield ... Does that mean that we know now where exactly the cursor is and that we can create a real wysiwyg text editor?

I'm working on a newspaper website at the moment and I have to code an text-editor to send formated ads from the site ... in Flash 5 this is really not easy to do and totally impossible without some pre templating.

Anyone with some extra informations about this one?