Index: src/wp-includes/js/mce-view.js
===================================================================
--- src/wp-includes/js/mce-view.js	(revision 31593)
+++ src/wp-includes/js/mce-view.js	(working copy)
@@ -33,6 +33,19 @@
 	wp.mce = wp.mce || {};
 
 	/**
+	 * Decode HTML entities in a givin string.
+	 *
+	 * @param {String} html The string to decode.
+	 */
+	function decodeHTML( html ) {
+		var textarea = document.createElement( 'textarea' );
+
+		textarea.innerHTML = html;
+
+		return textarea.value;
+	}
+
+	/**
 	 * wp.mce.views
 	 *
 	 * A set of utilities that simplifies adding custom UI within a TinyMCE editor.
@@ -89,7 +102,7 @@
 		 * @param {String} content The string to scan.
 		 */
 		setMarkers: function( content ) {
-			var pieces = [ { content: content } ],
+			var pieces = [ { content: decodeHTML( content ) } ],
 				self = this,
 				current;
 
@@ -390,7 +403,7 @@
 		 */
 		replaceMarkers: function() {
 			this.getMarkers( function( editor, node ) {
-				if ( $( node ).html() !== this.text ) {
+				if ( $( node ).text() !== this.text ) {
 					editor.dom.setAttrib( node, 'data-wpview-marker', null );
 					return;
 				}