Custom Plunk

var app = angular.module('angularjs-starter', ['mydirectives']);

app.controller('MainCtrl', function($scope) {
  $scope.firstName = "";
  $scope.lastName = "";
  $scope.getName = function() {
    return $scope.firstName + " " + $scope.lastName;
  };
});

// add a namespace for custom directives
angular.module('mydirectives', []);

angular.module('mydirectives').directive('blink', function() {
  return {
    restrict: 'E',
    transclude: true,
    templateUrl: 'blink.html',
    link: function(scope, element, attrs) {

      // select the needed DOM elements from the template
      var marquee = element.find("marquee");
      var input = element.find("input");

      // attach a blur event to the input
      input.bind('blur', function() {
        scope.$apply(function() {
          // exit edit mode
          scope.editMode = false;
          // update the text of the marquee
          marquee.text(input.val());
        });
      });

      // edit mode boolean controls the visibility of the blink and input
      scope.editMode = false;
      // called when the marquee tag is clicked
      scope.edit = function() {
          scope.editMode = true;
          input.val(marquee.text());
      };
    }
  };
});

<!DOCTYPE html>
<html ng-app="angularjs-starter">
  
  <head lang="en">
    <meta charset="utf-8">
    <title>Custom Plunker</title>
    <script src="//ajax.googleapis.com/ajax/libs/angularjs/1.0.3/angular.min.js"></script>
    <link rel="stylesheet" href="style.css">
    <link href="//netdna.bootstrapcdn.com/twitter-bootstrap/2.1.1/css/bootstrap-combined.min.css" rel="stylesheet">
    <script>
      document.write('<base href="' + document.location + '" />');
    </script>
    <script src="app.js"></script>
  </head>
  
  <body ng-controller="MainCtrl">
    
    <blink>Bring the blink back!</blink>
    <blink>NEEDS MOAR BLINK!</blink>
    
  </body>

</html>

<div>
  <marquee ng-click="edit()" ng-hide="editMode" scrollamount="100%" ng-transclude></marquee>
  <input type="text" ng-show="editMode" >
</div>

/* CSS goes here */