I think that the authors had a different vision. The font is applied after selecting a text and assigning a value to SelectionFont, not before. For example, you select a text and press a button. The code of the button makes a font and assigns it to SelectionFont. Then the new font becomes visible on the screen. The font will be kept even if you move the caret or select another text.
In addition, make sure that you assign the font to the visible control, not to an unused object created by new but not added to form.