In a text object you can bold and color characters. There's no underline or italics, but you could draw a line or create a line sprite and place it under the text you want underlined. None of this is available in an editbox though (although you could also add a sprite above the textfield to underline certain parts of the text). You could possibly use a font image in the editbox, one that has underlines under each characters but I've not done this.
Was you thinking of a textarea type field where the user can type loads of text and bold/underline parts of the text (like you would in a notepad type app). Or have your app automatically bold and underline certain words? If the former then possibly using something like BBCode or equivalent that the user can add to the textfield and when they press the button to submit the string you loop through the string looking for specific codes and format the text accordingly before displaying. I was going to do something like this once.
OryUI - A WIP AGK2 UI Framework