Two of the best word scramblers available online are the scrambler at TextMechanic.com and the scrambler at OnlineTextTools.com. Both of these applications are completely free to use.
The word scrambling application at TextMechanic.com can both scramble and de-scramble words. It has a "scramble each word's lettering" function that allows users to scramble words without affection capitalization, punctuation or formatting. However, all words put through the de-scrambler will be completely lowercase. Word wrap can be turned on and off for the program.
OnlineTextTools,com's word scrambler has similar scrambling options, but it does not include a de-scrambler. However, the program does have "scramble by delimiter" options that allows the scrambled text to be split up in various ways.