Well it takes some doing but this can be accomplished.
You will need to read up on how to write text as RTF.
I used this e-book to get me going. ( RTF Pocket Guide )
I know this is a really short explanation but I think once you know the idea you can
mess around and get there on your own.
You load a field with the RTF formatted text.
Then perform export records as Tab separated text, exporting only your RTF field,
using ".doc" as your file extension will make it a Word doc.