What is it?
As you may have guessed from the title, it’s a rich text editor framework for the web platform, with patches for browser inconsistencies and sensible defaults.
It has a very basic look, which seems to be very easy to customize (I haven’t tried it yet, but have briefly looked over the code). The Guardian has a very nice post about how they use it.
Cons: Some potential cons to using it in its current state; it’s lack of documentation. However, as I said above the code looks very nice and well written which should make it easy enough to get started with.
Pros: Its lack of style, this should make it very easy to integrate with whatever project being worked on. Very small footprint when compared to other rich text editors like it.
Licensing: Its released under an Apache license, so using it in most projects shouldn’t be an issue.