If I have problems with TinyMCE after upgrade there is usually 2 things to get it working normally.
1. Uninstall it from module manager and then re-install it.
2. Check the permissions for folders and tinymce javascript files.
For 1. you want to check that you backup TinyMCE settings if you changed them. Before you apply your settings back you want to be sure editor works first.
For 2. you will find javascript errors saying what file cannot be read and Firebug -> Console is good tool for that. Eighter that file or it's parent folder(s) do not have right permission so the file cannot be read.
I just upgraded very old CMSMS (to 1.10.3) and TinyMCE (to 2.9.9) and folder permissions for TimyMCE directory were not right. It had javascript errors but after changing folder permissions recursively to 755 things started working fine. I needed to uninstall old Tiny, change it's directory name (so it cannot be seen by Module manager, kept it just in case), upload new version (I did by FTP), install it and change folder permissions.
Hope this helps!
HTML Editor in TinyMCE not showing
Re: HTML Editor in TinyMCE not showing
I've been using tinyMCE 2.9.5(6) in 1.10.* series with no problems...