I figured this one out on my own. The features aren't working right now so if you want to change color or use bold or any other option you have to do it manually. For instance if you want to change text color you have to use [color = red] at the begining of your post and at the end of your post you have to use [/color=red].[/color=red]
Just place [] before and [/] after any feature you wish to use.