I just accidentally grabbed the wrong part of a font palette and found this out.
If you pull the little dimple at the top of the palette (which usually means something like a ‘drawer’ is hidden there), it exposes a font preview, so you can see how the font renders, not just it’s name.
The screenshot above is after it’s pulled and you see the preview. The ‘dimple’ is above the ‘shadow text’ T.
To get the font palette in most applications, you go to something like an ‘edit’ or ‘format’ menu, and see if ‘show fonts’ is an option. Then you get this floating palette. I play with fonts so much, I have it open most of the time in Keynote, Pages, etc.
Enjoy being a font geek!