Dear All,
I too experienced these problems when I upgraded to WP 4.1.1 version.
This is the solution I got so far. I downloaded the WP4.1.1 version from www.remarpro.com, opened its /wp-includes/js/tinymce/ folder and compressed to .zip
On the cpanel I renamed the tinymyce folder to tinymyce2 and uploaded the zipped tinymyce file.
After decompressing it, I refreshed both the cpanel window and one of the website( I manage several) and Viola! the Visual Editor was visible again on the posts. Also remember to delete the tinymyce2 folder on the cpanel once this works for you.
Or you can choose to upload the JS folder as a whole too.
I hope this helps someone else.
PS: I had to give step by step illustration so that those who are not familiar with this can get it.
Thanks.