My colleague & I are editing the same site, both using the same version of Contribute on different PCs. While I can see the fully formatted version of the pages when editing, all she can see is a plain text version, although it shows fine for her when previewing in browser.
Can you please confirm if you both are in same Role? The rendering is not fine, because the CSS and images are not download locally while editing the page. The second user role might not have the permission to those folders.