can't link text, get weird error

Hi and thanks for this great editor, so glad I found it .
inserting the editor to the admin section of my site was easy, but i've just encountered a problem -
when I try to link a text to any location, I get one of to.
if I use the http:// protocol I get: http://www.mysite.com%22http://siteIwanted.com%22.
If I do the same without the http:// in the protocol (use other) I just get http://www.mysite.com/%22///%22.

I've updated to the last version, but still have no clue why this happens. maybe its somthing intentional that I don't get, but either way, help!
Yandos.