In Onselect event I have script:
$(\"#vinanghinguyen_images_bbocde\").val(\'\');
$(\"#vinanghinguyen_images_bbocde\").val(vinanghinguyen_final_bbcode);
I just tried using this code and @psynnott's answer was correct though I needed to know it would work repeatedly, seems to work with jquery 1.7.1 >
I modified the jfiddle to the following http://jsfiddle.net/Rjj9v/109/
$('#mytext').text('');
This is not a new answer @psynnott is correct I am just providing a more concise example that shows the textarea is still working after the clear because if you use .val("") the text area stops working