Update to the "HTML doesn't work in synopsis" bug: As of 2.8.1 and 2.10.0, boldface (using the B element) works, italics (using either I or EM) are still broken, and paragraphs at least work somewhat. That is, they divide text into chunks, but the renderer doesn't automatically add a blank line between them. However, if there's a linefeed between the /P and P tags, that blank line will exist.
Sample HTML code, without the lt/gt entity encoding:
Code:
<div><p>Here's a paragraph. It has some <b>bold</b> text.</p>
<p>This paragraph has a blank line above it.</p><p>This one does not.</p>
<p>Neither <em>this</em> nor <i>this</i> display in italics.</p></div>
ETA: Tested on a Glo.