See seler bug below when a text node is inserted outside a <p> tag.
[subbu@earth tests] echo "foo\n\nbar" > /tmp/wt
[subbu@earth tests] node parse < /tmp/wt > /tmp/old.html
[subbu@earth tests] cp /tmp/old.html /tmp/new.html
[subbu@earth tests] vi /tmp/new.html
[subbu@earth tests] cat /tmp/new.html
<body data-parsoid='{"dsr":[0,9,0,0]}'><p data-parsoid='{"dsr":[0,3,0,0]}'>foo</p>NEW<p data-parsoid='{"dsr":[5,8,0,0]}'>bar</p>
</body>
[subbu@earth tests] node parse --html2wt --selser --oldtextfile /tmp/wt --oldhtmlfile /tmp/old.html < /tmp/new.html
fooNEW
bar
[subbu@earth tests] node parse --html2wt < /tmp/new.html
fooNEW
bar