Excel 2011 :: Copying Calculated Hyperlink

For Mac Excel 2011, though I think my question would apply to any modern version of Excel.

This is a little odd. I have a sheet where, for various reasons (see below ### if interested), I need to copy a hyperlink, replace a substring, and then return the new hyperlink (with old friendly text) to the original cell. (I actually have to do this with an arbitrarily-long column of links.) This was my plan of attack:

* Pull the URL from the hyperlink cell.
* Use FIND and RIGHT to strip out what I need and replace it
* Use HYPERLINK to build a new cell with the original friendly text and the new hyperlink.
* (Manually) copy this new link (really, a column of links) back to the original cell (really, column of cells).

Here's where it breaks down:

a) If I simply cut-and-paste, the formula used to pull the hyperlink becomes circular (as do several others), and Excel complains.
b) If I cut-and-paste-special (values only), I get just the friendly text, no link info. Likewise if I try to reference the "fixed" hyperlink.

The erroneous hyperlinks are in column K. My calculated correct hyperlinks are in column S. (There are similar errors and fixes in L and T, respectively.)