The commands for text in the conversation are:
Ctrl+R: Panel Shortcut
Ctrl+K: Opens Colour panel
Ctrl+B: Bold text
Ctrl+U: Underline text
Ctrl+T: Italic text
Ctrl+O: Ends all formats that have been applied in the line
A full list of commands for plus can be found here
http://www.msgplus.net/help_cmdtag.php