The editor does not fully load.

Are you referring to the number of buttons in the toolbar? Have you add the Toggle Toolbars button to the editor toolbar? This will hide all toolbar rows below the row the Toggle Toolbars button is on. You can remove this button in Editor Profiles -> Features & Layout.

After hitting close or save I get the popup window in browser "change you have made may not be saved, LEAVE"

Have you added the Autosave button to the editor toolbar? This will always give a warning if you close the page.

I basically do not see article text at all, the page loads and does not allow me to edit with full functionality. Save and close work however I get the browser window telling me im about to leave the page. I also see this error when I use the READ MORE button. I have other sites with JCE editor and they work fine since the last update.

Well i figured it out i think. By hitting "compress Javascript" in global configuration fixed the loading process.

This may be a browser or proxy caching issue, where using Compress Javascript forces a different loading process and therefore "fixes" the problem.

You could now try turning off Compress Javascript and see if the editor loads as expected.