Hmm, I wonder if we can do something crazy like embed Parsoid for consistent parsing? :D
It might also make sense to explore a 'partial' VE that displays links like links, bold like bold, shows placeholders for images etc. For us programmers syntax highlighting is great but it's still scary markup. :)
Whether it makes more sense to use attributed strings / rich strings in the system text editor widget or to use a webview as a VE or partial-VE may take some experimenting... depends how deep down the rabbit hole we're willing to go. :D
-- brion