You would manipulate the elements by toggling between styling rather than changing the elements based on the innerHTML. In this case, you would toggle between display:none and display:block.
Example:
<script type="text/javascript">
<!--
function show_hide(id) {
var elt = document.getElementById(id);
if(elt .style.display == 'block'){
elt .style.display = 'none';
}
else{
elt .style.display = 'block';
}
}
//-->
</script>
What do you think?