What I've understood is:
1. Paste the entire URL (including http.) from the selected website into your post.
2. Highlight this text and hit the Insert Link button which will add the text you highlighted in no. 1 above.
Where then do I locate the text with the space between URL's into which insert the text I want?
The above was my attempt at renaming the link to his thread 'Test' by typing 'Test' into the hyperlink box after highlighting the URL.
As I understand it, you are doing it COMPLETELY the wrong way around. The hyperlink box is ONLY used for the website link, which you paste into the box. You do NOT type any text into the box. Your highlighted text is in your posting window.
May I gently suggest that you re-read the instructional posts above again?