(I replied to your other similar post, but this is prbably a better place to
have this particular conversation).
There are a number of separate issues here
First of all, if you merge to e-mail sending a hyperlink of any kind, the
recipient does nto necessarily see a clickable hyperlink. It depends on the
mail format that you specify (HTML, plain text, attachment) and the
capabilities and options in the recipient's e-mail client.
For example, if you merge to plain text via Word 2003/OL2003, as far as I
can see if you
also use OL2003 to receive/view the e-mail, it does not display a clickable
link no matter what you do in Word, despite the fact that in this scenario,
OL2003 thinks it has received an HTML format e-mail (and as far as I can
tell, actually sends an HTML format e-mail unless you happen to open the
plain text e-mail in the out basket before it is sent).
So you have to use HTML format, and you don't get much control over the end
result when you do that from Word.
You also have to consider what the user at the othe end is going to do with
a link that says "Click here" these days.
If the clickable link is to the /same/ target every time, AFAIK all you do
is insert a Word HYPERLINK in your mail merge main document with the correct
link, then modify the display text. Then merge to HTML. I think.
If the link is to a different target then as far as I know there is no
simple option other than the "Use VBA and Word Events" that I have described
elsewhere in this conversation. It's actually not that hard to do if you are
willing to step through the example.