There is a Format Date and Time inline function. It accepts a Date and a string, where the string is any of the standard .NET format strings. For example, the "MMMM dd, yyyy" format string (without quotes) results in "February 02, 2012" in my email.

Spent 3 hours today trying to format a date and still cannot.

I'm in Message Body of an Email Event, click Context Browser, and I can add a date but can't format it.

I can get to the Expression Wizard, which doesn't help at all, but can't find the Function Wizard,

From the help file:
"The following table lists the standard date and time specifiers recognized by the Format Date and Time function."
"M/d/yyyy"

That's not very helpful, because it doesn't say what to do with M/d/yyyy, but instead just shows a screenshot of the Function Wizard, that I cannot find.

I search for Function Wizard, but there's nothing about it, how to find it, how to use it, nothing.

I know it's something simple, once you know, but it isn't at all clear how to do this. Is there a right mouse click I'm missing? Is there some other obvious button I don't see?

I found it. It required me to vent here first.

1. 
   
2. From the Email Event > Message Body, click ellipsis.
   
3. In the Context Browser, select fx tab.
   
4. Expand Date and Time.
   
5. Double click Format Date and Time function.
   
6. In the DateTime field, enter your date value.
   
7. In the Format field, enter the format, such as MMMM dd, yyyy.
   
8. Finish.
   

Thank you for replying back and letting us know how it finally worked. I apprecaite it.