Resetting a live-bound <textarea> changes its value to __!!__

Demo:
http://jsfiddle.net/5vD9u/2/

Threads:
https://forum.javascriptmvc.com/topic/1-1-1-resetting-a-form-changes-input-values-to#32525000001098027
https://forum.javascriptmvc.com/topic/1-1-3-resetting-a-live-bound-textarea-changes-its-value-to

In the first thread above, Curtis Cummings wrote:
"When the <textarea> is created it is given a placeholder value of __!!__ and then is quickly updated with the proper value. Because __!!__ was technically the original value, reseting that textarea displays __!!__."