when formatting text in a post it is not applied to the text in a post list slider?
This is because the post list slider is displaying excerpts. You’d need to actually create an excerpt for your posts that has your HTML formatting. Or, you can adjust the [post_list_slider] to use full content by using the “post_content” parameter.
See options list here: http://www.themeblvd.com/demo/akita/features/shortcodes/shortcodes-sliders/
This is all identical to any other use of the post list in general within the theme.
To keep the slider from going up and down on different posts do i have to specify a size in the css for the container of slider or does this have to do with image sizes?
Yup, you got it. If you want all slides to have an identical height, you’d have to set it with CSS, or else the slider is going to change heights on each rotation. But if you’re using excerpts and a consistant image size, they should already be pretty close in height, similarly to the example I linked to above.