The only reason the link is getting bolded and italic'ed is because you called up the post from within a search screen. The search results try to bold/italic the search terms you typed into the search box. The BBS isn't smart enough to know that it shouldn't b/i the contents of hyperlinks.
Calling up the post normally (from the parent FAQ screen) allows the image to work correctly.
This has been an existing bug in the BBS software for as long as it's been around. There is nothing we can do about it, as far as I know. If you want to go report it to WWWthreads, you're welcome to, I think I already tried that. And besides, the one year of upgrades we paid for has run out, so even if they did fix that particular bug we wouldn't get the fix.
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Tony Fabris