Missing "Treat Text As" options in OBIEE 11g

Something I used to use back in OBIEE 10g was the Override Default Data Format for text to do things with HTML in my Answers Requests. I had assumed this would be available the same way out of the box with 11g, but alas it is not.

What I get:	What I want:

So as always, I did a little digging, and found that in order to have all options show, you need to have the privilege: Save System-Wide Column Formats. What's even better is that out of the box, this privilege is assigned to no one, so you can't even set it!

Continue on to read what I did to allow me to enable the setting for BI Administrators, and finally gain access to all the treat text as options.