Edit: I found this interesting code: select dest.* from sys.dm_exec_requests as der cross apply sys.dm_exec_sql_text (der.sql_handle) as dest where session_id = @spid . Please, try.
http://msdn.microsoft.com/en-us/library/ms181929%28v=SQL.100%29.aspx
It seems you cannot do it without a trace. There are some more posts with a similar question: Is it possible to fully parameterize queries using DBCC INPUTBUFFER?
You can use DBCC INPUTBUFFER (spid), but only if sp starts from SSMS.
Take a look at http://sqlblog.com/tags/Who+is+Active/default.aspx . If you cannot add this sp to your square, the code will be useful.
Edit: it will only show which instruction of your sp is running, not the parameters.
Ilya Berdichevsky
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