A potentially dangerous Request.Form value was detected from the client
Add this to your web.config:
<httpRuntime requestValidationMode="2.0" />
Have you tried setting the htmlEncodeOutput property?
CKEDITOR.replace('editor1', {
htmlEncodeOutput: true });
This should encode the output and you should be able to avoid setting the requestValidationMode.
Documentation for it is here: ckEditor documentation