Interestingly even though I posted the question 2 years ago, this issue just came up for me again so its been on my mind...great timing. I haven't tried it yet but will be in the next week or two. My plan is to try to use TinyMCE as the editor for rich text fields in OWS. I implemented it in minutes in a test environment and it was really easy to use/configure...jquery based so you don't have to fiddle with installing a new DNN editor...I just haven't tried to implement within OWS yet but no reason it wouldn't work.(?) If you have a chance to try it out before I do, please post the result.
http://www.tinymce.com/download/download.php