I'm sure you have found the fix for this but I thought I would reply with the fix that helped me recently. You have to uncheck the Quick Grading box. When you click on your Assignment and then click on View/grade all submissions you will see this box in the Options. BTW I'm using Moodle 2.4. This will keep all your formatting for the Teacher and Student role.
Assignment
Feedback Comments Text Editor Not Saving Formatting (HTML)
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