I did find an easy way to do previews in TinyMCE using mathjax. TinyMCE can be modified to use mathjax in its native preview plugin with the following procedure:
First install both the development versiion TinyMCE 4.0 and MathJax on the same server (CDN copies will not work with this method). Edit the file in the TinyMCE distribution js/tinymce/plugins/preview/pluign.js. Replace 'sandbox="allow-scripts"' with 'sandbox="allow-scripts allow-same-origin"'. Then include MathJax in the header by adding after
headHtml += '<base href="' + editor.documentBaseURI.getURI() + '">';
the line
headHtml += '<script src="../mathjax/MathJax.js?config=TeX-AMS-MML_HTMLorMML"></script>';
where the path is adjusted to your MathJax installation (this assumes tinymce and mathjax are in the same directory of the server).
After this initialize an editor with tinymce.js in a page on your server which has plugin 'preview' enabled. Visit it with a browser and type TeX in the editor then select view preview from menu or toolbar. MathJax should render the TeX in the preview popup.