The icons on my notes screen for "worksheet" and "statement" are also grayed out. Once I add something in "worksheet" or "statement", the print & spell check are ok. Otherwise, only the two "letter misc..." have the formatting options available. Presumably because the worksheets and statements print as part of the return (but only statements are SENT with the efile) while the "letter misc..." are items that are added to the Lacerte Client letter. "Letter Misc 1" adds text to the beginning of the client letter, "Letter Misc 2" adds text to the end of the client letter.
Typically, I produce my "worksheets" and "statements" elsewhere (like in Word) then copy and paste them into the return, so I have never noticed lack of formatting options before. I have never used the "letter misc..." choices, as I just use "custom client letter" for that particular return thru screen 5.2