Textarea stopped showing content unless switch formats

I have TinyMCE 3.4.1 in a Drupal 7 installation. Everything was working fine. Now, the text in the textarea does not show when you go to edit a node unless we switch between formats (Full html or filtered htm), then the content will show up.

I have Editor CSS set to: Define CSS
CSS path is set to
%bsites/cbuilding.org/themes/hydra_cbi/css/main.css,%bsites/cbuilding.org/themes/hydra_cbi/css/cbi.css

I have these set for both full & filtered for now.

When I go to the page with the editor, I can briefly see the source html in the textarea - until the editor loads, then does not show until I switch formats back and forth.

so basically...
When the page with the editors is loading I can see unformatted text before the buttons show up. As soon as the editor loads, the content does not show any longer. Once I switch the format the text shows, formatted. I switch back to Full HTML, save and when I go back, same thing happens - flash of source code, editor loads, content of editor textarea disappears until I change formats.

I appreciate any help or suggestions on this.
Thanks - k