Por alguma razão, o Crystal Reports só suporta um subconjunto de tags HTML. De acordo com este tópico do fórum , balas não são uma delas.
Para o bem da posteridade, aqui está a suposta lista de tags HTML suportadas:
html
body
div (causes a paragraph break)
tr (causes only a paragraph break; does not preserve column structure of a table)
span
font
p (causes a paragraph break)
br (causes a paragraph break)
h1 (causes a paragraph break, makes the font bold & twice default size)
h2 (causes a paragraph break, makes the font bold & 1.5 times default size)
h3 (causes a paragraph break, makes the font bold & 9/8 default size)
h4 (causes a paragraph break, makes the font bold)
h5 (causes a paragraph break, makes the font bold & 5/6 default size)
h6 (causes a paragraph break, makes the font bold & 5/8 default size)
center
big (increases font size by 2 points)
small (decreases font size by 2 points if it's 8 points or larger)
b
i
s
strike
u
