Well! I've finally drilled through enough to use the above facility. Yes, we've got paint format in WORD - NOW we have the equivalent in V4 - EXCELLENT!
Now being able to "carry-over" some tricky formatting to other clips does 2 major things for me:
1 - My workflow will be smoothed
2 - I can now ensure a "style" to what I do
Thanks again SoFo and AGAIN the V4 programmers