Looking at the examples, I don't understand how this is "a better approach" to editing, because the HTML it outputs does not follow best practices. The HTML it outputs should look like a competent human had authored it, but currently it uses line-break hacks for paragraphs instead of semantic paragraph elements (two <br> elements aren't really a paragraph, it just looks like it), adds underline elements with Ctrl+U (these should be reserved for links and defined in stylesheets anyway) etc.