Cool project! Also check out rich text support in OutlineEdit 3: https://outlineedit.com/ It has an embedded plain text representation of all rich text formatting that is based on html-style tags and can mix and match all combinations of formatting styles. Also supports macOS versions back to 10.14 Mojave.
It does work, but it's a little clunky IMHO. For instance, if you press Return in the middle of a line, I expect it to split the current paragraph into 2, but not in OutlineEdit (or Outlinely or OmniOutline).