The problem is that the rich text editor menu (bottom of rich text modal) is hidden behind the keyboard (I am using iOS) when you put focus in the rich text editor screen.
Because of this, you can't select a portion of text in the editor and then select "B" or "I" or "Bullet points" from the rich text editor menu.
It would help to have the rich text editor menu be above the keyboard when the keyboard comes up to allow you to type.