This article is from the Mac Programming FAQ, by Jon Watte firstname.lastname@example.org with numerous contributions by others.
WASTE, available at ftp://ghost.dsi.unimi.it/pub2/papers/, is a
vast improvement over TextEdit. Version 1.0 does >32k styled text
retains compatibility with the TextEdit style scrap (which is used to
store styled text in files such as SimpleText's, as well as in the
clipboard), includes source code and is freeware. Really worth the
download. Version 1.1 adds embedded objects within the text, such as
pictures, intelligent cut-and-paste, built-in Drag Manager support,
built-in Undo support. 1.1 is currently in alpha, but seems to be very
"But," you nervously stutter, "WASTE is in Pascal! And it's munged so
that it won't work as an imported library w/Metrowerks C! What now?"
Dan Crevier is maintaining a C port of WASTE, and the current version
along with other WASTE goodies is at <ftp://rhino.harvard.edu/pub/dan/>.