If the formatoptions for colModel are set, the editoptions and their values are ignored.

During many hours debugging I found that in the 

File jquery.fmatter.js

Function $.fn.fmatter.select 

has such logic :

if(!$.fmatter.isUndefined(opts.colModel.formatoptions)){

    oSelect= opts.colModel.formatoptions.value;

} else if(!$.fmatter.isUndefined(opts.colModel.editoptions)){   // AAA

   oSelect= opts.colModel.editoptions.value;

}

if (oSelect) {

....

}

But if formatoptions.value is not set - editoptions.value is ignored and oSelect is undefined and no formatting performed and it is a mistake

I think AAA row should be rewritten in something like 

} if(!oSelect && !$.fmatter.isUndefined(opts.colModel.editoptions)){   // AAA

I think this issue started with jqGrid 3.8 when formatoptions logic was placed in this file. Our previous version (3.5) was working perfectly.

Hope this will help to someone.