Presents a dialog, as below, offering many options with relation to hyperlinks.  These can be 'external' hyperlinks on a network, intranet or the internet or 'internal' hyperlinks to places within the current document. (from here you can go to a reference on any worksheet in the workbook, or a named range), documents that are not yet created or to email addresses.

In all cases, you can set the Text to display in the cell and Screentip to show when hovering over it.