By default members use the basic editor, as the name suggests it basic. It doesnt support colours, fonts, smileys etc...
User can change their editor in the User Control Panel. The UserCP can be found at under the top left of the navigation menu.
UserCP -> Edit Options, right near the botom you will see Message Editor Interface, you can change your editor in there
This information and much more can be found by using the FAQ which can also be found on the navigation menu.
Regards
Mike...