I used the Welcome database which has a bullet as an option for Outline label. I have also turned on word wrap.

Here is an example of an item:

1. Is it possible to change the spacing between the bullet and the first letter (L)?
2. Is it possible to change the formatting of the lines so that it looks like this instead?
(This would be the same as the standard, left justified IQ formatting w/o the bullet)

I assume that neither can be changed since the Grid is made by a third party?
Do they by any chance have a Website/Forum for feature requests?