How could I hide the \'Edit\'-link after I press it? and also can I hide the \"lorem ipsum\" text when I press edit?
You should think JS for behaviour, and CSS for visual candy as much as possible. By changing your HTML a bit :
Edit
Lorem ipsum ...
You'll be able to switch from one view to the other simply using CSS rules :
td.post-editing > a.post-edit-btn,
td.post-editing > span.post-text,
td.post > span.post-answer
{
display : none;
}
And JS code that switch between the two classes