Microsoft Office: Why won't my Mac bold with cmd-B ,etc?

So I'm perplexed. On my Mac at work, when I use Microsoft Office and I hit Command-B, it bolds. Command-I italicizes and Command-U underlines.

But at home, those commands don't do anything.

Anyone know what I'm missing?

 

I'm using Office 365, which essentially uses 2011. I'm on the latest OS on a 2014 MBPro.

I have tried the same commands in Evernote and they work fine. It seems to just be MS Office.

I've also checked to make sure my fonts allow bolds and italics--and they do. If I hit bold or italic in the ribbon, it applies...just not by the keyboard shortcut.