Using Word to create email campaigns can cause some serious layout, formatting and delivery problems. Over the years, we've seen our users struggle with how Word interacts with online editors (like ckeditor or fckeditor which we use as part of our content editor). To help you avoid all those problems, we've incorporated a "word cleaner" (paste from word) into our content editor. So no more copying from Word, pasting into a simple text editor and then pasting back into MailChimp. Just paste directly into our content editor and we'll handle the cleaning. 
When you copy your content from Word into MailChimp's content editor, we will strip all the junk code so you can easily work with your campaign, but in order to do that we also have to strip out color, style, and some other elements. So while you can type your content into Word and paste it over to MailChimp, it's necessary to set formatting within our content editor.
Elements the cleaner keeps - bold text, numbered lists, bullet points, links. (Note: the "paste as plain text" doesn't keep these elements, so avoid using that option for campaigns created in Word.)
If you absolutely must use Word's formatting to create your campaigns, the only way to get formatted Word content into the MailChimp editor is to beam over a newsletter from Outlook. You'd copy your Word content into an Outlook email (not as an attachment) and send it according to the instructions on the "beam over a newsletter" article.
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