Well I finally got my hands on a beautiful application called CodePress. It has its very own rich text editor which you can configure quite easily.

Its quite a powerful editor. To get a sneak preview of my editor click on SQR Pad.

Do keep in mind that this is work under progress and I might add more features to it as and when time permits. In the mean time try it out.

Oh I almost forgot..if incase you want to copy the code written by you you would have to click the button at the bottom of the page in order to reformat the code so that it can be copied.

Enjoy.