Excel Online Formatting

I am sharing an Excel online (web based) sheet with co workers. The sheet is used for coordination of equipment, no calculations - text only in cells.
When double clicking a cell to enter text, the formatting options grey out. We use red and black fonts in each cell.
When the sheet was first built, this was working fine.

Also, when opening the sheet in the desktop app, the formatting buttons on the ribbon do not grey out and we are able to select any color combination for fonts.

Any suggestions on how to fix this issue?

I gave that a try and once I start typing, all the formatting buttons on the ribbon grey out.

Originally Posted by FDibbins

...When double clicking a cell to enter text...

Why do you need to dble click? When entering (anything) into a cell, if you are already in that cell, you can just start typing, then ENTER (or use an arrow key to enter and move to another cell.

DBL clicking puts the cell in EDIT mode, maybe thats why you cant see options?