One possible way forward is to perform the similar string replacements on behalf of the Text View node.
Here i have created some variables,
I have then used the CSS Editor, not to edit CSS but to provide a convenient means for entering the text data that would otherwise have been written in the Text View node:
I then have a component written in java that does (subject to testing!) the replacements of the flow variable strings, so
becomes
This text is then supplied directly as a single flow variable to Text View which displays it as this:
I had to cheat slightly with the bold option, since the <b> tag didn’t seem to have much of an effect (if any). So I used <h6> instead.