The excerpt is the standard excerpt as generated by WordPress, which does not retain formatting (basically because when truncating to a set number of characters you are more than likely to lose the closing HTML tags and generate invalid HTML.
The plugin adds the excerpt meta-box to Pages (it is usually available for Posts), so you can write a custom excerpt to be displayed.
Using the Rich Text Excerpts plugin (https://www.ads-software.com/plugins/rich-text-excerpts/) or a similar plugin, you can create formatted excerpts. (N.B. I’ve not used this plugin with the latest version of WordPress.)
You can set the parameter truncate_excerpt="false" for the CC Child Pages shortcode to avoid truncating theHTML. Note that if the number of words in the excerpt is greater than that specified in words (the default being 55), the excerpt will still be shortened and the formatting lost … so you may want to also specify something like words=100 to avoid this unless absolutely necessary.
