IRC formatting not appearing

[Recon]

No IRC formatting displays on any incoming messages, instead appearing
as plain text (not even any control characters show up). I'm using the
provided Windows binary of 2.10.0. I've searched through the ticket
archives but only found one ticket ( #1776 ) that seems to imply that
this isn't desired functionality. Is this a WONTFIX, a known issue, or
should I be filing a bug report right about now?