Does anyone know if Umbraco will read all possible TinyMCE configuration options?

I've have "style_formats" working fine. But I want to override the buttons (left, center, right for example) so that only styles are applied and NOT inline style. This can only be done using the "formats" option in TinyMCE, but Umbraco doesnt seem to be paying attention to this.

Code below...

 <config key="formats">
  [{
    "aligncenter": [{ 
      "selector": "p", 
      "classes": "center-text" 
    }]
  }]
</config>
<config key="style_formats">
  [{
  "title": "Image",
  "items": [{
    "title": "Float Left Image",
    "selector": "img",
    "classes": "formatted-textbox__float-left"
    },
    {
    "title": "Float Right Image",
    "selector": "img",
    "classes": "formatted-textbox__float-right"
    },
    {
    "title": "Zoom",
    "selector": "img",
    "classes": "zoom"
    }]
  },
  {
  "title": "Emphasis",
  "selector": "p",
  "classes": "medium"
  },
  {
  "title": "Introduction",
  "selector": "p",
  "classes": "large"
  }]
</config>