You don't necessarily need the !important. I've also added the font face for anyone who's interested, btw.
All you need is this:
[strong style="font-family: Papyrus; color: red;"] TEST [/strong]
Like I said in my above post, I've used this feature in the past and it does get annoying SPECIALLY when there is website update; it does ruin the site's cosmetic consistencies, and most particularly when such feature is overused and/or with no purpose.