There is an easier way to change the cross reference text. Simply edit the text that the cross reference inserted. In my case, I wanted the name of the hyperlink to be the name of a document that I specified in a table. This is what I did to accomplish that:
1) I create a cross reference to the Table with the "Insert reference to:" box set to Entire caption.
2) I then highlighted the middle text of the hyperlink that was created and pasted the name of my document. Note that I highlighted the middle text of the hyperlink because I found that if I highlighted the entire text, the paste would remove the hyperlink field.
3) I deleted the first and last characters of the old hyperlink text, and now my hyperlink is the document name that I wanted.

It would be nice if Microsoft allowed us to specify the hyperlink text in the Cross-reference dialog box, but editing the text is no too difficult