BuddyPress.org

It is possible and that’s what i explained on both topics i indicated.

By default BP use only a textarea. You can add a WYSIWIG editor by using that snippet.

All that is WP stuff and is explained on WP’s codex.

user_can_richedit
wp_editor

Check you have correctly added anything to your custom page and if the button is still missing, check first the page source code from within your browser. If you find it in code but don’t see it on screen, there may be a css rule who hide it.