It has been discussed before, but I don't think is is on the current list of TODO's.
You can solve this yourself locally in your browser by for example using some scripting language like Greasemonkey.
Don't ask me for any examples and how, and I doubt you can do it with Internet Explorer, except changing some defaults.
Better formatting options for the About Me and other description fields is however planned and is probably what most people are looking forward to.
They did for example already allow some formatting in the description field of Geni Projects that was released yesterday:
http://www.geni.com/projects
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