No—Yesware tracking does not work in plain-text mode. Because Yesware’s email tracking relies on an invisible image-based pixel, plain-text emails (which strip all formatting and images) will disable tracking entirely.
To ensure your emails are tracked, you must send them using HTML or rich text formatting.
Gmail
To disable plain-text mode in Gmail:
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Open a new compose window.
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Click the three stacked dots in the toolbar (next to the trash icon).
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Uncheck "Plain Text Mode."
Outlook
To ensure tracking works in Outlook, make sure your compose window is set to use HTML format, not plain text.