The email template is based on HTML. If you copy and paste text from another source, such as Word or a webpage, etc., there may be formatting to the text that is copied into the DonorView email template.
When you click once on a text context area, the Component settings apply to the entire text content. If underlying formatting exists (in the case of copy and paste), then applying Component settings may not necessarily override that formatting.
When you double-click on a text content area and go into edit mode, you can select all of the text and use the Remove Format button.
You can click on Source to view the HTML and see the formatting that exists.
When Component settings are changed, they may not affect some text.
If I remove formatting, the Component settings are applied to the second line of text.