@Yacine:
So, after being more methodical, I noticed that the Chars section must start with a single row setup. The macro only acts on 1st row. That was creating some of the inconsistent results.
Once, a correct starting condition is defined, then the <f8> approach always works correctly. Stepping thru the code, you can watch as each "the" is made bold, then resized, and then moves to next "the". Normal code execution also provides consistent, identical response. Namely, ALL text is bold and shrunk to the new size.
Looking at shapesheet, the <f8> single line execution produces multiple rows in Char Section. This would be the expected, correct behavior. With the normal execution mode, only a single line is present with new values for Style and Size. The single affects the entire text string.
Your comment about messing up the Char string, might be a possibility, if, somehow the indexing gets clobbered...like when iteratively deleting a bunch of shapes. Will try starting at end of string and work backwards to the beginning.