My formatting is maintained when I use the option. What problem are you having? What version of Crystal Reports have you got installed?

I opened a ticket with CSE and they told me that while some types of formatting are retained, row colors, which I was using, is not.
My Crystal Report used conditional formatting...

Background Color: if datediff('d',date({In_Progress._137}), currentdate) > 45 then crred
else if datediff('d',date({In_Progress._137}), currentdate) > 30 then cryellow
else crwhite