Thanks for the updates. I think I am leaning towards just uploading the BBLI versions. I played around with the tooltip app, but (unless I am missing something), it doesn't support styles in the BBLI version. For example, I colored some text RED and exported both the BBLX and BBLI files, but only the BBLX file had the RED text. It supports italic and bold in both versions. The conversion tool also skips red text when converting from BBLX to BBLI.
Also, I wanted to support small caps which the BBLI version supports. In fact, the BBLI being HTML can support most styles.