I just downloaded the latest internal build and moved the latest DLLs to my bin, restarted IIS, and it didn't fix the issue here as well.
Exception Details: System.ArgumentNullException: Value cannot be null.
Parameter name: child
Source Error:
An unhandled exception was generated during the execution of the current
web request. Information regarding the origin and location of the
exception can be identified using the exception stack trace below.
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Stack Trace:
[ArgumentNullException: Value cannot be null.
Parameter name: child]
System.Web.UI.ControlCollection.Add(Control child) +11305622
Telerik.Web.UI.RadEditor.ControlPreRender() +270
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The first editor has some text being bound whereas the second editor's data is null.