diff --git src/wp-includes/js/mce-view.js src/wp-includes/js/mce-view.js
index d3af61e..27135cf 100644
--- src/wp-includes/js/mce-view.js
+++ src/wp-includes/js/mce-view.js
@@ -41,7 +41,7 @@ window.wp = window.wp || {};
 					doc = editor.getDoc();
 					$( doc ).find( '[data-wpview-text="' + this.encodedText + '"]' ).each(function (i, elem) {
 						var node = $( elem );
-						node.html( html );
+						node.html( html ).append( '<span data-wp-view-end class="wp-view-end"></span>' );
 						$( self ).trigger( 'ready', elem );
 					});
 				}
diff --git src/wp-includes/js/tinymce/plugins/wpview/plugin.js src/wp-includes/js/tinymce/plugins/wpview/plugin.js
index 75f7047..d7602d4 100644
--- src/wp-includes/js/tinymce/plugins/wpview/plugin.js
+++ src/wp-includes/js/tinymce/plugins/wpview/plugin.js
@@ -141,8 +141,21 @@ tinymce.PluginManager.add( 'wpview', function( editor ) {
 	}
 
 	editor.on( 'BeforeAddUndo', function( event ) {
-		if ( selected && ! toRemove ) {
-			event.preventDefault();
+		var replace,
+			previousContent,
+			content;
+
+		replace = function( content ) {
+			return content.replace(/(<div[^>]+wpview-wrap[^>]+>)([\s\S]+)(<span[^>]+data-wp-view-end[^>]+><\/span><\/div>)/mg, '$`$1$3$\'' );
+		};
+
+		if ( event.lastLevel ) {
+			previousContent = replace( event.lastLevel.content );
+			content = replace( event.level.content );
+
+			if ( content === previousContent ) {
+				event.preventDefault();
+			}
 		}
 	});
 
@@ -162,11 +175,7 @@ tinymce.PluginManager.add( 'wpview', function( editor ) {
 	editor.on( 'SetContent', function( event ) {
 		var body, padNode;
 
-		// don't (re-)render views if the format of the content is raw
-		// to avoid adding additional undo levels on undo/redo
-		if ( event.format !== 'raw' ) {
-			wp.mce.views.render();
-		}
+		wp.mce.views.render();
 
 		// Add padding <p> if the noneditable node is last
 		if ( event.load || ! event.set ) {
diff --git src/wp-includes/js/tinymce/tinymce.js src/wp-includes/js/tinymce/tinymce.js
index 1c291c9..5f7bb10 100644
--- src/wp-includes/js/tinymce/tinymce.js
+++ src/wp-includes/js/tinymce/tinymce.js
@@ -17165,12 +17165,12 @@ define("tinymce/UndoManager", [
 					return null;
 				}
 
-				if (editor.fire('BeforeAddUndo', {level: level, originalEvent: event}).isDefaultPrevented()) {
+				lastLevel = data[index];
+				if (editor.fire('BeforeAddUndo', {level: level, lastLevel: lastLevel, originalEvent: event}).isDefaultPrevented()) {
 					return null;
 				}
 
 				// Add undo level if needed
-				lastLevel = data[index];
 				if (lastLevel && lastLevel.content == level.content) {
 					return null;
 				}
@@ -34977,4 +34977,4 @@ define("tinymce/ui/Throbber", [
 });
 
 expose(["tinymce/dom/EventUtils","tinymce/dom/Sizzle","tinymce/dom/DomQuery","tinymce/html/Styles","tinymce/dom/TreeWalker","tinymce/util/Tools","tinymce/dom/Range","tinymce/html/Entities","tinymce/Env","tinymce/dom/StyleSheetLoader","tinymce/dom/DOMUtils","tinymce/dom/ScriptLoader","tinymce/AddOnManager","tinymce/html/Node","tinymce/html/Schema","tinymce/html/SaxParser","tinymce/html/DomParser","tinymce/html/Writer","tinymce/html/Serializer","tinymce/dom/Serializer","tinymce/dom/TridentSelection","tinymce/util/VK","tinymce/dom/ControlSelection","tinymce/dom/RangeUtils","tinymce/dom/Selection","tinymce/fmt/Preview","tinymce/Formatter","tinymce/UndoManager","tinymce/EnterKey","tinymce/ForceBlocks","tinymce/EditorCommands","tinymce/util/URI","tinymce/util/Class","tinymce/ui/Selector","tinymce/ui/Collection","tinymce/ui/DomUtils","tinymce/ui/Control","tinymce/ui/Factory","tinymce/ui/KeyboardNavigation","tinymce/ui/Container","tinymce/ui/DragHelper","tinymce/ui/Scrollable","tinymce/ui/Panel","tinymce/ui/Movable","tinymce/ui/Resizable","tinymce/ui/FloatPanel","tinymce/ui/Window","tinymce/ui/MessageBox","tinymce/WindowManager","tinymce/util/Quirks","tinymce/util/Observable","tinymce/Shortcuts","tinymce/Editor","tinymce/util/I18n","tinymce/FocusManager","tinymce/EditorManager","tinymce/LegacyInput","tinymce/util/XHR","tinymce/util/JSON","tinymce/util/JSONRequest","tinymce/util/JSONP","tinymce/util/LocalStorage","tinymce/Compat","tinymce/ui/Layout","tinymce/ui/AbsoluteLayout","tinymce/ui/Tooltip","tinymce/ui/Widget","tinymce/ui/Button","tinymce/ui/ButtonGroup","tinymce/ui/Checkbox","tinymce/ui/PanelButton","tinymce/ui/ColorButton","tinymce/ui/ComboBox","tinymce/ui/Path","tinymce/ui/ElementPath","tinymce/ui/FormItem","tinymce/ui/Form","tinymce/ui/FieldSet","tinymce/ui/FilePicker","tinymce/ui/FitLayout","tinymce/ui/FlexLayout","tinymce/ui/FlowLayout","tinymce/ui/FormatControls","tinymce/ui/GridLayout","tinymce/ui/Iframe","tinymce/ui/Label","tinymce/ui/Toolbar","tinymce/ui/MenuBar","tinymce/ui/MenuButton","tinymce/ui/ListBox","tinymce/ui/MenuItem","tinymce/ui/Menu","tinymce/ui/Radio","tinymce/ui/ResizeHandle","tinymce/ui/Spacer","tinymce/ui/SplitButton","tinymce/ui/StackLayout","tinymce/ui/TabPanel","tinymce/ui/TextBox","tinymce/ui/Throbber"]);
-})(this);
\ No newline at end of file
+})(this);