I've just been giving a demo to a potential customer, and they asked whether the style drop-down in the Editor could show styles rendered as they would appear, because they have such a large number of styles.
Would this be possible?
It's a good idea, and I can really imagine customers would like it. However, it's not possible to display different styles of individual options in a common select box (color is one of the few style attributes that work for the option element). This means that there's more to it than just applying the CSS classes to the options in the list. But I'll include it in our wish list for future releases.