strips all links / HTML

I noticed that if I tried to add links or other formatting, Drop Cap removes all those if a Drop Cap is applied. This is because in dropcap.js on line 10 it takes the text with

var text = $(this).text();

and then adds all but the first letter to $paragraph in line 19:

$paragraph.html( text.slice(1) );

.text() removes all the formatting. I understand that while this is necessary to get only the first letter, but this function limits the ability to use this module.

Maybe one option could be to use drop cap as an input format? This would give it the possibility to strip html temporarily (I think?).