Hey @nathank – I really enjoy your posts, you always give a good amount of details for what you find!
I see something similar when I do this as well. I put ‘cow goes boo’ as a watched-word-link and when I add it to a user field it shows the full link. However, mine is also showing the first letter of the watched word too. Are you seeing that also? I changed the link, removed and added it to the link list again and it still shows ‘c’ in front of the link:

