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This application allows the portal administrator to configure which buttons to show inside the AlloyEditor toolbar, which is the default WYSIWYG editor for Liferay Portal.
For example, portal administrator can enable/disable bold or italic functionality, or enable text alignment and paragraph indentation.
Just go to the System Settings section inside the Control Panel and choose the "AlloyEditor" menu item; then you'll the list of the buttons you can enable/disable inside the AlloyEditor. Just choose the buttons you want to use, save and try to create a new web content: you'll see only the buttons enabled from the control panel.