Interesting post, Lyle...
The way I do it is to hit the little 'world document' button (3rd from left on lower row of buttons; hovering over this will show the alternative text 'Insert Hyperlink'), and then edit the first BBCode tag (the thing in square brackets), to add =web_address after the url tag, i.e. url=web_address (between square brackets).
Then insert a short description text.
this pageAlternatively, enter the short description text, highlight (select) it, then hit the 'world document'. Enter the web address as above.