When selecting a list and clicking the bulletpoint formatting button, it merges the list into one item.
For example:
Should have been formatted as:
Screenshots:
I have a list:
And after I click on the bulletpoint formatting button:
That is the way it has always worked since launch in 2013. We just haven’t had time to improve it, and very few people use extensive formatting via toolbar buttons.
I would use this button a lot more if it worked 
I use it even though it doesn’t work and it drives me crazy, like, seriously every day. 
I find myself doing keyboard paradiddles (HOME, minus, space, down, HOME, minus, space, down, HOME, minus, space, down) and I think to myself, “This shouldn’t have to happen in 2015.”
This makes the situation not better. This also happens when selecting a text area for quotes. The bullet points are disapearing.
There’s a good chance this will be addressed in v1.5:
Yup, I spent time on this when I redid the discourse editor.
