This is on our roadmap but we don’t have a specific timeline to share at this point. We’ll update this when we have more details!
Yes bring this back already...
Make it happen.
This month we added the ability to format text fields based off a numeric field: https://powerbi.microsoft.com/en-us/blog/power-bi-desktop-may-2018-feature-summary/#conditionalFormatting
We also are planning on adding a feature that will let you format your text based on comparisons. I’ll update this idea based on our progress on that feature.
Being able to do conditional formatting based on text would be a life saver!