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So I use both for work… Libre for most things, but for spreadsheets or powerpoints that are a bit more complex, onlyoffice works/looks better.
Presets as in paragraph and character presets? I didn’t find them at all. In LO I can easily change existing or new presets. In MSO it’s a bit more hidden but still possible. In OO I didn’t find it so far, but also didn’t spend too much time on it and just went back to LO.