On WIN XP SP3 using 251 Build 474 & 475 beta
Issue#1 - Insert Hyperlink --> Insert to File --> then select a file from s subdirectory of My Documents (pdf, htm, etc. - there are blanks in several of the directory names which should perhaps become %20?) starts the application (Adobe Reader, IE, etc.) but the application produces error about unable to load file. Please note that when double-clicking in Windows Explorer all tested files load correctly. Also note that with the 475 Beta that I can drag a file from Windows Explorer (with CNTL) to create the Hyperlink and these (auto) Hyperlinks work great.
Issue#2 - When using Hyperlinks via Insert Hyperlink --> Link to Tree Item, that although these links work fine initially if the "Item"/"Note" is later moved to another location in the Tree that all Hyperlinks now point to a missing Item. Oddly there is no error message when CNTL+Clicking on the original Hyperlinks - just a "no-operation". If the "Item"/"Note" is returned to its original Tree location the Hyperlinks now work again as expected. I would prefer that when a referenced 'Item"/"Note" is moved that all Hyperlinks are updated (perhaps via an optional prompt) and that any invalid Hyperlinks issue an error message (perhaps with an option to search for an correct the link).