In the visual editor, the button to remove formatting activates if the cursor is placed on a formatted (bold or italic) character. However clicking the button has no effect unless text is selected.
Either the button should be disabled when no text is selected, or clicking it when no text is selected should have an effect (probably remove formatting from the current word).
Version: unspecified
Severity: normal
Although the interface doesn't clearly indicate this, when the cursor is inside bold text, the toolbar shows "Bold" active. When you then click "Clear formatting", nothing inside the document will change (since no text is selected) however it does affect text entered from this point on.
Basically when your cursor is inside or against bold text, you'd expect text entered after it will also be bold. Clearing formatting at that point means it will unbold your cursor (if you know what I mean).