Safari 5.1 has a bug (they've apparently fixed it in nightly) where it can get very slow making edits. On large files, it can take tens of seconds.
The problem is that the main tag surrounding the syntax highlighting is a span, which triggers the Safari bug. The bug makes any DOM changes incredibly slow, including setting display:none, running removeChild, or running replaceChild.
I was able to reproduce without editarea by just fiddling in the web inspector on any website.
To fix change
<span class='\"+t.Å[\"syntax\"]+\"'>\"+hightlighted_text+\"</span>
to
<div class='\"+t.Å[\"syntax\"]+\"'>\"+hightlighted_text+\"</div>
(that's for the minified version, but a similar change would work in the non-minified version)