Upon further review.... the code is simply incomplete.

There are numerous (15-20) variables that are declared but not used.

The code loaded a "Font" table, but then just ignored it

The code indicated multiple arguments, of which only two were used.

I added Font handling by adding this code:
In the General section:
Dim strFontFace as string
Function ParseFont(strColor As String, strSize As String, strFont As String) As String
Dim strTmpFont As String
strTmpFont = "<font"
If strColor <> "" Then
strTmpFont = strTmpFont & " color=""" & strColor & """"
End If
If strSize <> "" And strSize <> "2" Then
strTmpFont = strTmpFont & " size=" & strSize
End If
If strFontFace <> "" Then
strTmpFont = strTmpFont & " face=" & strFont
End If
strTmpFont = strTmpFont & ">"
ParseFont = strTmpFont
End Function
**ALSO** in the ProcessWord function alterations need to be made
in the Case "\f" section, remove the main "End IF" (the endif for the first if) and replace it with
ElseIf IsNumeric(Mid(strWord, 3)) Then 'Font Type
strFontFace = strFontTable(Mid(strWord, 3))
End If
**ALSO** in the ProcessWord function change every call to ParseFont to:
ParseFont(strFontColor, strFontSize, strFontFace)

To include a basic HTML headder (+H option) just add this at the very last line of the RFT2HTML function:
If InStr(strOptions, "+H") Then
RTF2HTML = "<html><body>" & RTF2HTML & "</body></html>"
End If
Crude, but effective.

Finally, you might want to comment out ALL local and module scoped variables and then de-comment the ones the compiler says are needed..... cuts right down on the number of variables....