In Toad 10.1.1.8, INSERT statements are not formatted and remains as one line.
For example, after formatting the Editor shows
INSERT INTO table (value1, value2, value3, ...)
INSERT INTO table (value1,
This is an issue with QP5.dll v5.139.911.3011 which is employed in Toad 10.1.1.8.
Waiting for fix in a future release of Toad for Oracle