Excel 2007 - Formatting text in cell (character by character)
 

In Excel 2003, one could select a cell, highlight a part of the contained
text string and then right-clidk and format text. I could get underlining,
bold, font, color, etc.

For some reason, with Excel 2007, I can do the same, but when I hit the
enter button, the formatting disappears. It reappears if I select the cell
and press F2.

Is there some setting that I have missed?