<script type="text/javascript">
    $(document).ready(function() {
       var $_returnvalue = false;
       $('.suggest_link').fancybox({
          onClosed: function(){
          alert($_returnvalue);
          if ($_returnvalue != false)
          {
            // I will be setting the textbox value here.
          }
       }
    });
</script>

<script type="text/javascript">
$(document).ready(function() {
    var $_fancyvalue = false;
     $(".suggestion").click(function(){
        alert(parent.$_returnvalue);
        parent.$_returnvalue = $(this).text();
        $.fancybox.close();
     });
});
</script>

var $_returnvalue = false;

$(document).ready(function() {
       $('.suggest_link').fancybox({
          onClosed: function(){
          alert($_returnvalue);
          if ($_returnvalue != false)
          {
            // I will be setting the textbox value here.
          }
       }
    });