A mobile wireless communications device may include a housing and a wireless transceiver carried by the housing. The mobile wireless communications device may also include audio transducer carried by the housing, and a controller cooperating with the wireless transceiver to perform at least one wireless communications function. The controller may also cooperate with the at least one audio transducer to convert speech input through the audio transducer to converted text, determine a proposed modification for the converted text, and output from the audio output transducer the proposed modification for the converted text.