I know that text objects can use bbcode to insert icons / sprites into text.
But can sprite font text also do this too? I’m not able to test the bbcode for some time.
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It does not appear to be the case. But considering it's a spritefont, you probably can abuse some unused special characters to put an icon in that you then can use by just simply typing that special character (without needing any bbcode)
The way SpriteFonts work, every character is in fact an icon. So yeah, you can use custom icons with special characters.