Beginning several versions ago and continuing through the current version of Dreamweaver, the program dispensed with the old method of applying these sorts of character formatting (which was to use the HTML <font> tag) in favor of using CSS styles. This change happened mostly behind the scenes in Code view, so if you have been using Dreamweaver for quite some time, you may not have even noticed the change. Beginning with Dreamweaver CS4, the program enforces the use of CSS for text styling by requiring you to participate in defining CSS rules for changing fonts, font sizes, and font colors.
My Note: I disagree with the statement in bold above. The difference in terms of text formatting between CS5 and CC reminds me painfully that decisive moment when iMovie changed from its simple layout to the FinalCut Pro layout. I clearly understand the reason why: the software is much more powerful, but the learning curve is also much steeper and does not allow novices (students) to be introduced to web development using Dreamweaver. Surely DW cannot satisfy all its customers, but the move is about to turn off the newbies.
The reason for the change to CSS is important. Pages styled with CSS are much more flexible than pages that use HTML <font> tags, and they can be maintained more easily. For example, when a site is redesigned, every page that uses <font> tags must be individually changed to match the new design. If you have hundreds or thousands of pages in your site, that’s a lot of work. Sites that use CSS to style text only need to change the style sheet document, and the changes automatically ripple through the whole site.
Using Adobe Edge web fonts
Previewing Files and Modifying Existing CSS Layouts Using Adobe Dreamweaver CC