**How I Solved This Problem**
1- Backup your 2.7 Database
2- Backup all your 2.7 WordPress Files
3- After backing up all your 2.7 WordPress Files, delete all the files.
4- Do a FULL FRESH INSTALL of WordPress 2.7
5- After you are done installing the fresh install of WordPress 2.7, try to create a new post and see if the Visual Editor comes up (it did for me)
6- Upload your 2.7 Database (the one you backed up in Step 1) If the Database is large, use bigdump.
7- Check and see if the Visual Editor is up for your old posts.
I did this and now it works for me. Hope it works for you guys.