No WYSIWYG editor is displayed in VM 1.1 r898 with Joomla 1.5 revision 8356
This appears to be a problem with how the editor is initiated in J! 1.5. I'll check with the J! dev team.
Greg
EDIT: Here is the post in the Joomla! forums (http://forum.joomla.org/index.php/topic,202068) for this.
OK
Fixed in Joomal 1.5 RC2
Yes, fixed in J! 1.5, rev. 8563.
Greg