Index: src/wp-includes/js/mce-view.js
===================================================================
--- src/wp-includes/js/mce-view.js	(revision 39643)
+++ src/wp-includes/js/mce-view.js	(working copy)
@@ -116,7 +116,7 @@
 						}
 
 						instance = self.createInstance( type, result.content, result.options );
-						text = instance.loader ? '.' : instance.text;
+						text = instance.text;
 
 						// Add the processed piece for the match.
 						pieces.push( {
@@ -428,7 +428,7 @@
 		 */
 		replaceMarkers: function() {
 			this.getMarkers( function( editor, node ) {
-				var $viewNode;
+				var viewNode;
 
 				if ( ! this.loader && $( node ).text() !== this.text ) {
 					editor.dom.setAttrib( node, 'data-wpview-marker', null );
@@ -435,11 +435,22 @@
 					return;
 				}
 
-				$viewNode = editor.$(
-					'<div class="wpview wpview-wrap" data-wpview-text="' + this.encodedText + '" data-wpview-type="' + this.type + '" contenteditable="false"></div>'
-				);
+				viewNode = editor.dom.create( 'div', {
+					'class': 'wpview wpview-wrap',
+					'data-wpview-text': this.encodedText,
+					'data-wpview-type': this.type,
+					'contenteditable': 'false'
+				} );					
 
-				editor.$( node ).replaceWith( $viewNode );
+				editor.$( node ).replaceWith( viewNode );
+
+				if ( ! viewNode.nextSibling ) {
+					editor.selection.select( viewNode );
+
+					setTimeout( function() {
+						editor.selection.collapse();
+					} );
+				}
 			} );
 		},