Character formats dropped for first words in a bullet paragraph

Working with version 4, update 54; converting from Frame 9 to XHTML.

It seems that, for any paragraph that has an autonumber (bullets, numbered steps, and the autonumber paras we use for Tip, Note, and Caution text), the first instance of any applied character format is skipped by the conversion. So, for example, if you have this in Frame:

1. The Bold and Italic fonts.

You would get this in the converted HTML:

1. The Bold and Italic fonts.

Anyone else seen this, or know what might be happening?