Sometimes a question or answer needs to be edited so that it makes sense. If the reader has to re-read a statement multiple times to glean meaning from poor grammar, incorrect spelling, or overused chat lingo, then it needs to be edited. Most times, I'd defer to the original poster by asking them in the comments to rephrase their question, but sometimes that's not possible (infrequent users, non-native English speakers, etc.). In those cases, a quick edit so long as it doesn't change the original tone or quality of the question is appropriate.
Anything that's along the lines of censorship, though, would be off limits. Editors and moderators have a lot of power, and removing humor or colloquialisms that were intentionally used reeks of editorial abuse.
That said, the product we're discussing is "WordPress" ... with proper camelcase formatting. At the same time, there has been plenty of discussion/debate/arguing/bloodshed over how the formatting of this term should be performed. Some developers are intentionally misusing the camelcase as a form of protest. Not everyone, but some.
In the majority of cases, I'd say we should ask that people use the proper camelcase for WordPress. If they forget to, it shouldn't be a big deal to fix the oversight. In some situationssome situations, though, where we know the poster knows better it can be left alone. If hakre used "Wordpress" intentionally, that's his right. Now that we know it's a conscious decision, we should leave it alone from this point forward.
Other formatting (headers, lists of reference links, etc) should follow simple guidelines. Most likely set up in the FAQs. Well-formatted questions and answers are easier to read and build a higher-quality site. We should encourage formatting as much as possible and, if necessary, offer to fix mistakes as appropriate.