It does , but currently only for one word. (see the regex singleword in the code)

The problem are longer strings, the number of misinterpretations will occur far more often if one allows more than 1 word. Where do I have to draw the line? 3, 4 words ...?

I was thinking of using doubled symbols like ** instead of * for longer passages, like in wikicreole.²

The goal is to make the syntax rules customizable for the user.²

In the end <b><i><u> are not really that important, the other features are far more relevant when typing on a mobile device.

update

Thanks for your interest and contribution! :)

footnotes