The manual says this about Text Synchronization in soft groups:
"This feature was added before support for LIVE COPIES was introduced and LIVE COPIES are much more flexible and powerful, so this feature is less useful than it used to be. But it’s still relied upon by many of the templates and elements [...]"

I just tested it and the Live Copies work correctly with these text formatting options, the only downside I can see (for me) is that I can't have a different color for one Live Copy to create a fake shadow like the example.