I also tried hard coding the £. ie. text="£££" and no luck. just blank.
It sounds like you meant to name this thread "£ symbol is NOT showing up in my TextArea". According to Wikipedia, the symbol "£" has Unicode code point U+00A3, which is decimal 163. So first use String.charCodeAt() to make sure that its char code is really 163.
If it isn't, you may have some kind of encoding problem with your source code; perhaps you don't have the source file encoding set to UTF-8.
If it is, you may have some kind of font problem where the font being used doesn't have a glyph for U+00A3. Find some font inspection utility to determine whether this is the case.
Adobe Flex SDK Team
I have hardcoded the text as below and when I run the application, I could see the text appear in the TextArea..
id="ta" width="300" height="200" text="£"/>
where all the special characters are displayed in a Flex application.
It may be helpful...All the best..