How to use MutationObserver?
You need subtree: true
http://jsfiddle.net/6Jajs/1/
The inner text would normally be a child text() element in the DOM. Without the subtree it will only watch the element itself.
There is possible confusion surrounding "characterData" (https://developer.mozilla.org/en-US/docs/Web/API/CharacterData), but it seems that that applies only to nodes that directly contain text. The DOM is structured so that most markup elements contain mixed type which optionally include a child text node (which in turn would implement characterData, but would be a child of the targeted node).