Hello:
On the VLC 0.8.6i version, I had a font I liked for subtitles. That version of VLC used the freetype2 rendering module.
0.9.6 uses by default the quartz rendering module. I wanted to have my fonts, not some spindly quartz selection, so I switched it back to freetype.
Problem is, when I hit play, the font shows as it should for a second or two, and then it switches back to some other spindly font.
So the bug is, it doesn't stay with the font I selected.
The workaround is to use 0.8.6i.