You want to embed fragment of html inside of the text element?
If this is what you want you could do this way:
test.xml:
<?xml version="1.0"?>
<?xml-stylesheet type="text/xml" href="test.xsl"?>
<onething>
<something>
<title>Hey!!</title>
<text><![CDATA[
<strong>Hey</strong>
Or <a href="#">nothing</a>
]]></text>
</something>
<something>
<title>What?</title>
<text><![CDATA[
This is something completely else. <a href="here.html">See here</a>
]]></text>
</something>
</onething>
test.xsl:
<?xml version="1.0"?>
<xsl:stylesheet version="1.0"
xmlns:xsl="http://www.w3.org/1999/XSL/Transform">
<xsl:output method="html"
doctype-public="-//W3C//DTD XHTML 1.0 Strict//EN"
doctype-system="http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd"
encoding="utf-8"
indent="yes"/>
<xsl:template match="/">
<html>
<head>
<title>XML + XSLT Test</title>
</head>
<body>
<xsl:apply-templates select="onething/something"/>
</body>
</html>
</xsl:template>
<xsl:template match="something">
<h2>
<xsl:value-of disable-output-escaping="yes"
select="text"/>
</h2>
</xsl:template>
</xsl:stylesheet>
output:
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">
<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
<title>XML + XSLT Test</title>
</head>
<body>
<h2>
<strong>Hey</strong>
Or <a href="#">nothing</a>
</h2>
<h2>
This is something completely else. <a href="here.html">See here</a>
</h2>
</body>
</html>
regards