You can use ReplaceList to get it to replace the escape
characters, something like:
str=ListReplace(str,"&,>,<","&,>,<")
You can expand the lists to include all special characters.
You'll also have to run the code multiple times, given your
example. The first time you run it </div>
will get converted to </div> The second time you
should get </div>. To run it multiple times, you can use a
while loop with a regular expression. Something like:
<cfloop condition="ReFind('\&[^;\s]+\;',str, 0,
0)"></cfloop>
Forgive me if the code is not exactly right, I didn't test
it, but you should get the idea.