Service Pack 1 for Blackbaud NetCommunity provides an update to the email editor to the most recent version of TinyMCE - Version 4. While the editor looks different, all the existing functionality is still in place plus additional functionality. For instance, this version of the editor allows you to access the <head> section of the email source code, giving you the ability to create responsive email designs.
Note: The HTML editor has only been updated for Email > Templates and Email > Messages. Upgrades to the editor used in other parts of Blackbaud NetCommunity are planned to be phased in as part of future releases.