Finally we got it working. The rich text editing feature is live now with the latest update.You can now format your text, make it BOLD, Italic or make it Underlined. You can also change the font color of a selected text easily.
How to use.
1. Write some text into the post area.
2. Select some text and click on the formatting you would like to set.
"B" - Bold
"I" - Italics
"U" - Underline
"N" - Normal (No formatting)
"@" - Choose font color
"#" - Cancel all formatting
You can save your post with formatting on your phone as well. And when you open it from your drafts, all your formatting is preserved.
Well, there is a bug though. If you open a draft with the formatting, you cannot cancel the formatting with which you had saved it. We will try to fix this in the next release.