OK. Now the preview is working but the iframe and scripts coding is being stripped when I save it. I had the same problem with Joomla articles and I just got the tinymce editor to work correctly on articles but I am unable to for easyblog. Currently, I have the '0' setting for tinymce ( admin, super admin, editor) and have removed the iframe and script as prohibited. I also have the Joomla text filtering off as this is how it works correctly for articles.
It's just not working for easyblog....