Of course I could simply delete the text and then type it in, but since so many are ported from my Mac OS version, I just would rather hit the link button and remove the hyperlink but keep the text. It allows me to “edit” the link, but if I try to erase the link completely, the “Done” button’s grayed out.
When you select the link text, the black pop-up toolbar that comes up has an Remove Links item on it. The list of options on this toolbar may exceed its width, so you may need to hit the right-facing triangle at the rightmost side of the toolbar to see the option you need. (You will also find a few other useful options there!)
Aha! The trick is to select the word before the link and extend the selection to the end of the link. Otherwise, you never get to see the submenu choice.