Maybe the problem is when you output it to the browser. Maybe something is filtering it somewhere.

Maybe the text is coming correctly. is it a <textarea> or a rich text editor like tinymce/fckeditor?

Try doing this in the first lines is the page that receives the POST data:

Code:
<?php
echo '<pre>';
var_dump();
echo '</pre>';
exit;
?>
That should show how text is coming.