Events Module Rich Text Editor buggy?

Hi everyone
We're using SF 4.1.
In the Events module, I added a field as a "Long text" with "Rich Text Editor"

Then when I add  this to the News module itself, the rich text editor isn't so rich. It only allows raw text and all my HTML appears as code. 

Is this a bug in SF 4.1 and I'm out of luck? Or is there a setting I missed? (Doesn't seem like it)
Any help would be great.
Thanks, Lou