Formatting for cloud version

[Cormac O'Riordan]

I'm trying to add panel for new user story in new Jira version like i used to do before, however it just seems to write out the notation as below without creating panel. Does anyone know what i'm doing wrong here ?

{panel:title=My Title|borderStyle=dashed|borderColor=#ccc|titleBGColor=#F7D6C1|bgColor=#FFFFCE}
a block of text surrounded with a *panel*
yet _another_ line
{panel}