Here's an example of a text subtitle with italics that has both the front and the end cut off. This is with build 55, btw.
Install the fonts from the archive (install them for the local user, not system wide) if you can't reproduce the issue. (and MC may need to be restarted to take effect)
Place this in a srt file and use it with any video file:
1
00:00:01,382 --> 00:05:00,383
<i>Azi?</i>
Configure the fonts for text based subtitles in MC this way:
Font: Trebuchet MS
Font Style: Bold
Size: 12
The end result is what can be seen in the attached screenshot, where both the leading "A" and the ending question mark are truncated.