yes, "sometimes" it works.
I have been using Evernote Business since 2015. I don't mean it's not good to update the latest version. But in the very very beginning, I love Evernote so much because of this simplicity & simplifying format function. I really hope this function works all the time.
A good point you've mentioned is removing format in tables, I hope this format removing function could also apply in removing table format too.
Now, when I remove formatting for the whole table, there would be a new strange cell exist in the bottom of the table.