Best I have is the following Help link, but I do not know if that is going to do the trick or not. I would suspect the underlying issue is not us, it is the BIFF translator, which we get from Microsoft, not being able to sort things out such that Excel knows to make that a hyperlink would be my best hunch.
Only thing of which I can think would be to try exporting to a .csv file once to see if by chance when you open that in Excel if things work or not, as if they do, then my theory may be on the right track in that case.
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