I found that by using UTF-8 character encodes, I could get a rudimentary punctuation going in the submission portion of the board. You can't modify the story after it's been submitted using the editor, you have to use an external editor and rewrite the whole thing. I've used the following codes in my story "Jimmies Mom":

‘ (left-hand single quote)
’ (right-hand single quote)
“ (left opening parenthesis)
” (right closing parenthesis)
… (ellipsis)

Yeah, it even buggers the ellipsis. The result isn't very pretty (“grow up” becomes "grow up"). But it works.