I would like to highlight portions of text, say in yellow, within a cell of a multicolumn dropdown. Is this possible, or are font attributes all-or-nothing?
You could set the Column Style to FormattedText. This basically makes the cell into a FormattedLinkLabel control. So you might want to just put an UltraFormtatedLinkLabel control on the form and edit the Value property to get an idea of the capabilities of it and see how the XML structure looks for the formatting.