Smartlinks can be treated as 'field codes' in MS Applications - as indicated by the brackets in the image below. The "hownow://_r583115/" indicates a smartlink (a HowNow hyperlink)

To toggle between the field code and its resulting value, select the entire field and press Shift + F9. To toggle all the fields in your document, press Alt + F9. So if you open a document and see field codes instead of results, simply press Alt + F9 to toggle them all.

Alt + F9 is a word hotkey to toggle field codes.
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