You can use the WebBrowser control in design mode with a second WebBrowser control set in view mode.
In order to put the WebBrowser control in design mode, you can use the following code.
This code is a super stripped down version of a WYSIWYG editor for one of our software products.
Simply create a new form, drop a WebBrowser control on it, and put this in the form_load
Me.WebBrowser1.Navigate("about:blank")
Application.DoEvents()
Me.WebBrowser1.Document.OpenNew(False).Write("<html><body><div id=""editable"">Edit this text</div></body></html>")
'turns off document body editing
For Each el As HtmlElement In Me.WebBrowser1.Document.All
el.SetAttribute("unselectable", "on")
el.SetAttribute("contenteditable", "false")
Next
'turns on editable div editing
With Me.WebBrowser1.Document.Body.All("editable")
.SetAttribute("width", Me.Width & "px")
.SetAttribute("height", "100%")
.SetAttribute("contenteditable", "true")
End With
'turns on edit mode
Me.WebBrowser1.ActiveXInstance.Document.DesignMode = "On"
'stops right click->Browse View
Me.WebBrowser1.IsWebBrowserContextMenuEnabled = False