If you want to change the text of the link there are two ways of doing it...
1. Type the text you want first, then highlight it with your mouse and then click the link button. Type in the URL and click ok, your custom text is now linked.
2. The other way is to turn off the WYSIWYG editor by flipping the "light switch" at the upper left of the editing box. That will show you the raw forum code where you can edit the link text.
Wow.....#1 sure is a different way of doing it, but it works....thanks! #2 is just way too much work for me.
Way back when #1 was the only way to do it if you wanted custom text and for some forums I'm on the only way still. And many of those same forums don't have a WYSIWYG editor so once you do #1, you see #2 (did I really just type that? ) and then you can edit away.
Of course there is always #3, if you know how the forum code is formatted, you can just type it w/o having to press any buttons.