It's that way for me too, and I've already mentioned it to CPH in a PM.
If you type a couple of letters and then hit "Preview Post" it'll expand it out for you so that you can continue typing in a normal view. Then ... when you're done typing your PM, you can hit "Preview Post" again and go from there.
I'm sure CPH will take care of this as soon as possible. He's knee-deep right now, so time is a factor. Hang in there guys!