New code now allows use of the button to add links for some pre-determined text as you have done in the past. However, if a user just pastes a url into a message it will end up with a link showing as "Click Here. See the two examples below to politics forum. The first was was entered as a url directly into the message while the second was entered using the button and link text Politics Forum:

Click Here

Politics Forum

Remember, if you want to have a link show with some text other than "Click Here" you just enter the text in the message, then highlight it, then click on the little link icon. Actually the link icon is not clickable until you highlight some text. Clicking on the link icon opens a small window where you can paste in or enter the url link.