It's pretty clear there's no workaround that will allow authors and editors to view changes inline, while simultaneously seeing notes with their pointers to the text being referred to.

To clarify, here are some threads on the MS forums about this: You can view comments as well as changes simultaneously, but the only way to do this is in balloons off to the side, so you have balloons reading 'This text is confusing because ' and also ones saying 'text deleted - '. However, there's currently no way of doing this while simultaneously viewing comments. (Such a balloon would read 'Text deleted - 'on the screen'.) In Word 2011 for the Mac, it's possible to view tracked changes inline - that is, see the changes made on the screen within the text itself, as opposed seeing them in a balloon off to the side.