Michael K,
Thank you for contributing but this thread has been dormant for months. I do not see anything in the original post having to do with a hyperlink being needed.
Since we are back here...
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				Is there a way to default cross-referenced text to apply the CHARFORMAT vs the MERGEFORMAT?
			
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 Not built into Word, but see 
Change Word Field Formatting Switch - MergeFormat/CharFormat by Graham Mayor, MVP