WordPress 2.8 Update Lost text formatting tools Bug

Today World is downloading and installing latest update of wordpress 2.8. i did the same and upgraded to latest version with WAUP plugin. But it gave me a problem. I did everything correctly and also this was not the 1st time i was performing this action. Its a common bug and many people are facing the same. When I try to edit or add new posts i get the usual text editor but the existing posts is only shown with white text color on a white background in HTML, so I can only see it if I mark everything. If activate “Visual” I get the HTML formatted post shown and the text editor-bar is missing

wordpress2.8bug 1

wordpress2.8bug 2
Wordpress developers should look into this matter and resolve it ASAP. I am trying to get a solution for this and will post here as soon as i get it. If you know the solution then please share

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