Having WYSIWYG editor is a cool factor. Although caution must be taken. A real CMS system should always decouple content from look. modETP is sadly not a real CMS, its a glorified edit your site. The IE control does not know that there is a real CMS on the backend. So what happens is that related items and layout are stored into the content. Thereby making it diffcult to change the look of the content aside from the borders around it. 404s are also not eliminated.
I think bitflux editor has promise of OpenACS since it seems to be designed to be CMS backend aware. Its a matter of having OpenACS give the proper data to bitflux and reading the data that bitflux returns. I think its a major undertaking but not impossible.
I think the IE activeX control is an ok solution in the short term especially on non CMS packages such a forums or bboard. Of course the HTML code will be as bad as FrontPage too :)