What functionality is missing? What is unsatisfying with the current situation?

It is currently possible to change the colour of a whole body of text in the whiteboard. It isn't possible, however, to change the colours of specific words or lines. It is similarly impossible to underline words, put them in bold, have them crossed out or in italic.  

How does this feature request address the current situation?

It could improve the visual clarity of the whiteboard. Everything doesn't to be added in its own separate sticky, shape or body of text. For example, if I want three words to be a secret, being able to change the colour of those three words - and then specify in the whiteboard legend the meaning of said colour - rather than creating a "secret" sticky would be more efficient.  

What are other uses for this feature request?

Reducing the numbers of stickers, shapes or body of texts necessary to convey a message quickens the writing process. It could also reduce the overall size of the whiteboards.