I'd suggest inserting the link as unformatted text. That way, the formatting will take on the attributes of the underlying paragraph in Word. If you try to override any of the formatting in a link within Word, your changes will be lost next time the link updates, even if the data don't change. The only exception is if you use a Charformat switch in Word to apply a specific format to the entire link.

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Cheers,
Paul Edstein
[Fmr MS MVP - Word]