I was thinking that perhaps it's time to remove the "format missing links as link?" option
1: It's ancient
2: few people probably still use it (let's not count users who haven't edited in the past 3 years).
3: It's a confusing option in your prefs, if you are a n00b.
4: we can create gadgets or provide users with a css example for their common.js for those who insist
5: it's ancient.