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I haven't explored the use of Bluebeam cloud in the field, however this sould do the trick. Bluebeam has added a "Project" space to the Cloud that runs independently of Studio Projects (following the Microsoft philosophy of giving similar names to things that aren't the same…).

However this would require you working with your documents from start to finish in the cloud space. The upside is that it's device agnostic, you can sign in from any device and start working. The interface is also geared towards collaborative markups (text and simple shapes) versus a full library with more complexe shapes and lines. This is good as it streamlines how people interact with the drawings. This is also not good if your interaction requires more than simple shapes. You still have folder structures to organize your drawings, and all your reviews and comments would now be contained to the 'Project XXX'.

For now you can export all the data (to Studio Projects or other) which tells me they will have syncing between Cloud Projects and Studio Projects in the near future (this will allow the desktop app to be used)

And finally, the cloud does require internet/data all the time, there is no offline mode. I hope i understood your questions correctly.

For now the Markup list doesn't show formatting. I could potentially see this of use with the markup list reports, retaining the formatting when the report is generated. At this time though I have not had that requirement myself.

@Sarah, If the text is important enough to need formating, why are you using a Note which has reduced visibility on the document? Typically i encourage people to make their markups visible and the post it note is something I actively discourage using as people (of various usability levels) tend to overlook the Note (also same reason why i don't encourage the use of the 'Reply' feature right now as people don't consistently use the markup list).

Yes! There is an option in the preferences Interface → Markups List → Use Rich Text for Comments