Replace double-paragraphs

[Guessed]

That content is showing paragraph marks either end of a hyperlink. This means that there is 'something' in between the consecutive paragraph marks (ie a start or end hyperlink code).

If you replace all single paragraph marks with zz you see it hits them all. If you remove the hyperlinks you also see your original macro works as expected.

I suggest you rework your macro to remove paragraph marks from inside the Hyperlink ranges.