Hi Matt. Monarch V8 uses the Office XP components to export HTML files. I assume you have tried to build a text-based calculated field which 'should' yield the correct HTML command to display a hyperlink (such as a link to show the current quote of a stock), but Monarch with the Office XP component assumes you want everything exported as data in a table grid.
I think using the Monarch Utility could allow you to replace the needed HTML code so a hyperlink is displayed instead.
(To look at the Monarch Utility go to the Windows Start button, then: Programs -> Monarch -> Monarch Utility. Open it and you can see all the possible capabilities of Monarch Utility, a new extension of the old "Prep" utility (which we still provide...Prep is a longtime companion utility to Monarch, since Monarch 1.0 for DOS!)
I will look into this further and loop back to you.