Zwitsch,
There is some help for the format string, it's just a bit hard to find, if memory serves. I just looked, and it's very obscure indeed. You have to go to the LabVIEW user manual, which you can get to by going to the help from anything that uses a format string (I used "to Spreadsheet String"). You will get a link to the User Manual (PDF). The information is somewhere in Chapter 9, but the help file doesn't give really good instructions on finding the information in Chapter nine.
The useage of the format string is actually pretty simple. Once you learn the rules, you won't have any trouble.
Good luck.