Yes. When composing an email message, you can insert links to external webpages or mail-to email addresses. When adding a link you'll need to highlight the text with your cursor and use the Link icon on the editor to add a URL, Anchor or E-mail link. These links can be edited to show up in a different colour or to remove the underline effect which indicates that the text is hyperlinked.
Follow these steps to edit the link:
In the example above, the HTML colour code is: #ff6600. This can be replaced with any colour codes in the same format. You can view a colour chart online and use the codes provided. Try HTML Colour Codes http://html-color-codes.info/. The text-decoration:none code tells the system not to underline the link.