What I wanted: a way to expand form fields (particularly textareas) to a larger editing palette using a single keyboard stroke. [see below - Fig. 1] It's a work in progress, but it's been suitable enough for my needs that I thought I'd share.
Figure 1. - "Enter" to open, "Esc" to close.
I dunno...does it seem intriguing? Give it a whirl and see if it's something usable. (Go ahead and login to the proposed BugLess interface)
I'm not naive enough to believe I'm the first person to make an interface like this, it's a big web and I'll bet there's similar implementations out there in the digital wild. Nevertheless, if it's an idea you think you'd like to adapt (or have already created concurrently/previously) let me know, I'd totally love to learn where it would succeed or fail in application.