depends on how similar other values are, but assuming the basis is
{formatting code, space, text required, format code} you can use instr, left, right and mid functions etc to remove the formatting code - perhaps something like
Code:
strip off codes to right
left(note, instrrev(note,"\")-1)
with this strip off codes to left
mid(left(note, instrrev(note,"\")-1), instrrev(left(note, instrrev(note,"\")-1),"\")+1)
now strip off remaining bit of code to left (i.e. before first space)
mid(mid(left(note, instrrev(note,"\")-1), instrrev(left(note, instrrev(note,"\")-1),"\")+1),instr(mid(left(note, instrrev(note,"\")-1), instrrev(left(note, instrrev(note,"\")-1),"\")+1)," ")+1)
edited - code lost the \ when saved, hopefully stays this time
nope - \ gone again, try with code tags