How do I get my popup list to display different fonts? Specifically I need the last item to be displayed in a different font than the rest of the list. The data is custom and entered at creation but I'm flexible!

No can do. The valuelist is not formatted, only the field that it is tied to.

Is this function available in newer versions?

Maybe in 7.0, but don't count on it.

It would be possible to use the 'portal trick' to make a drop-down list that would seem to work like an ordinary pop-up menu, but would have items in different fonts.

If you need it to list a lot of items, then you may have to use the portal to list the items from a related file. Then you'd have to stack differently formatted fields in order to get the different font(s) to display. Otherwise you could just have the list items as text in the portal.

The portal trick is not always easy to set up, depending on your layout. But if you want to look at an example and see if you can make it work in your file, check out the download files at LayoutMode.com.