Originally Posted by mich
There's a freeware I use sometimes called Text Editor Anywhere
It's a hotkey that automatically selects all text in a browser form or editor applet and pastes it into the editor of your choice. When done with the edit, it pastes it back. Good if you have an editor with a quality spell check or grammar checker.
Sometimes I use Selector, which I wrote. Select text and hit the hotkey, then you can load it in an editor or other application via clipboard or as a temp file. Selector is free for you to use at your own risk. You can download here: Hotkeys