in reply to
Formatting the text while adding the footnote in MS Word
The short answer: yes
When you use the Win32::OLE module to drive Word, you can just about do anything via Perl code that you can do when manually using Word with a mouse and keyboard. The main trick to learn when using Win32::OLE and Microsoft Office products is to try the task manually and record it as a macros. Then look at the source code of that macros, which will be in VB (or VBscript, which has very similar syntax). Then you just need to convert that into Perl syntax. If you do a search, you'll find other nodes with more details on using macros to help figure out code using Win32::OLE.
Unfortunately, I'm more familiar with using Win32::OLE with Excel and I would need to use the macros trick myself to offer you more concrete code that does what you're looking for. This information should hopefully help point you in the right direction.