Thanks for letting me know. The whole pointer position thing seems like a weird off-by-one issue, but I'm sure it's more complicated than that or it would have been fixed as a matter of course.
I already have clips set up for smallcaps and the like, I may do as you suggested and make them for italics, bold, etc and override the keyboard shotcuts (ctrl+b etc) if possible. Clicking a second time to remove the tags isn't usually an issue for me as I use undo for that anyway.
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