Hi Gina,
Modify your formula to:
IF {ID_TYPE} LIKE "??-63-????" OR {ID_TYPE} LIKE "??-64-????"
THEN
'<font color = "blue">' & "6." + '         ' + '<b>' & "YOU DO NOT HAVE AUTHORIZATION TO PERFORM THAT OPERATION." & '</b> </font>'
Right-click the formula field > Format fiel > Paragraph tab > Set 'HTML Text' as its Text Interpretation.
-Abhilash