For some reason, in some fonts, the bold or italic formatting does not appear in PrintDraft.
For instance, I have a test project using the Andika font. In PrintDraft all the text that should have been bold (section heads for example) was not bold, and the text that should have been italic was not. But if I changed the font to Times New Roman in the PrintDraft dialog, the bold and italic text appeared.
I found I could make bold and italic appear in Andika if I modified the PrintDraft-mod.tex file (inside the PrintDraft folder) to add these definitions.
\def\bold{“Andika:embolden=2”}
\def\italic{“Andika:slant=0.2”}
\def\bolditalic{“Andika:embolden=2;slant=0.2”}
I suppose this is related to the fact that in the Windows control panel, Times New Roman is a font family, if I open it I see Times New Roman Regular, Times New Roman Bold, Times New Roman Italic and Times New Roman Bold Italic. Andika is just one font, not a family.
For non-Roman scripts you may need to add a script definition to your command. This is how I enabled bold & italic for a project using the Annapurna SIL font:
\def\bold{“Annapurna SIL:script=deva;embolden=2”}
\def\italic{“Annapurna SIL:script=deva;slant=0.2”}
\def\bolditalic{“Annapurna SIL:script=deva;embolden=2;slant=0.2”}