Product Notices

Certain product require special notifications, for example must be 21 or over.  Attributes with a hidden check box can( kind of) be used for this purpose. It is not the best option. The notice 'attribute'   name should be be optional to render. HTML mark-up should be available to bold, change color to red etc if desired

Why should it " be optional to render"?  If you have "Certain product require special notifications", then create attributes (required) on those certain products.

Lets say in the sate of NJ Jersey you must be a licensed plumber to purchase certain gas flex hoses, or some products may require a color disclosures color disclaimer.

Are these examples of a product  attribute,  requirement or notice.
Current to achieve this attribute ' 'NJ Gas Flex Hose License Requirement' is created with hidden checkbox, and text 'State of NJ requires a valid plumbers license to purchase this product.' is formatted red.

some glitches  with the work around
1) Since an attribute is a select-able item we must make it required with a hidden check box
2) The Attribute can not be formatted - its bold and black
3) The text has been formatted red to stand out - the attribute name and text format do not match
4) It's a challenge to have the attribute and text flow logical even more so when different format is used

RE: "must be a licensed plumber to purchase certain gas flex hoses,"
Does his license need to be validated by you?  Create custom customer attribute  so that he can enter an id in his account page.  Create a Customer Role, and then use ACL, and enter "Customer roles" on the product  (so that only 'licensed plumbers' can even see the part).   Grant the customer the role after you validate his license.
I think you'd need customization if you wanted anyone (even guests) to see the part, but only plumbers can but it.  A product specification attribute would have message "must be a licensed plumber".  If that message needs to be conditionally shown, then you need to customize.

RE:  " some products may require a color disclosures color disclaimer"
Seems that would always apply.  What makes it conditional?  In any case if you need conditional, then it requires customization.

Required attribute do work to an extent.  

For example 'New Jersey State law requires a valid Plumbers license' renders 2 lines, the attribute in black and the in description red - 1 line and 1 color(red and the same font weight) is preferable

NJ Residents
New Jersey State law requires a valid Plumbers license

another example would be the following notice which would include a warning and Info Icon.

'California Proposition 65 Warning.  This product can expose you to chemicals including lead, which are known to the State of California to cause cancer and birth defects or other reproductive harm. For more information go to www.P65Warnings.ca.gov'

renders the below 2 lines the attribute black and description in red and truncated.  1 color(red and the same font weight)  and 1 line(wrapped) is preferable.

California Proposition 65 Warning

This product can expose you to chemicals including lead, which are known to the State of California to cause can

Changing the color, font, etc. would require customization, but can probably done by adding CSS classes and putting conditional code (Razor or JavaScript) in some .cshtml files (so, you don't need to recompile).