Thread:Visual editor/Feedback/Little arrow widget on marking text

What is the reasoning to just show a small arrow widget on marking text, only exposing formatting functions after another click? Rather I would think that a popover should always be there when marking text, like in this Mac OS implementation of the iOS marking popover: http://pilotmoon.com/popclip

Please let me know if there’s a usability reason for showing only the arrow first, I’d love to know.