For as long as I can remember, the "Preformatted" dropdown on our Jira pages is broken. The version number at the bottom is v7.4.3#74005-sha1:d9f4f07.
When formatting text with the dropdown, it merely puts two curly braces before and after, {{like this}} instead of the correct markup, which is to use the noformat tags, {noformat}like this{noformat}. Our pages render correctly when using the tags, it seems to be just the dropdown that's doing the wrong thing.
I'm not the system administrator at our organization, so I don't have access to the support contracts, but this seems like a bug that is independent of our contract.