Ooops! My apologies. I only posted part of the answer.
OK. Let me start over and I'll give you the complete answer, as I left
out the most important parts.
Let's start with what I posted already:
If you use the Forms toolbar (View > Toolbars > Forms) and add
controls to a worksheet, you can format those controls.
Select the form so that you can see it's border (the re-size handles
will be visible). Next, right-click or control-click on the border. A
pop-up menu will appear. Choose Format Control.
When the Format Control dialog opens, on the Colors and Lines tab adjust
the Fill Color to No Fill. The adjust the line color to No Line, and
then click OK to close the dialog box.
Drag over any text in the control and delete the text.
What you have left is just a form control, which you can position
anywhere you like. I position the control next to a cell that has the
text that I want to display. You can format the text in the cell any way
you like, and it looks like it's part of the form control, but it really
isn't. I use this trick all the time. in the cell next to the control,
usually I have an IF formula that's based upon whether or not the form
control's associated cell value is TRUE or FALSE.
So, although it's true that you can't adjust the font formatting within
the form control itself, it doesn't matter. You can easily "fake it."
-Jim