Virtual2 code:
{color: 50,100,250}{contrast: 60}<Link>
Thanks tjinc. Apparently my mistake was that I was using a Custom Tag instead of a Virtual Tag. HOWEVER, now that I've removed the Custom and created a Virtual, the URL is clickable, but there still is no color. I copied your Virtual Tag exactly with the change from "Link" to "Link 1" and pasted it into Virtual 14 with the Type as URL.
{color: 50,100,250}{contrast: 60}<Link 1>

Then I added it to the Track Details Template Editor

And it's clickable. Perhaps it's blue, but I think it's still black.
I removed the contrast part of the Virtual Tag and changed the color to 200.0.0 (red) removed it from the Track Info and added the changed tag from the drop-down and it shows as "Invalid naming template -- {color: 200,0,0}<Link 1>"

So for the time being, I'm using your template for the Virtual Tag even though it's not in color.
Suggestions?