In Writer or in Impress (those are the 2 components in which I've tested it, if you select some text and then insert an hyperlink, the "text" field on the insert hyperlink dialog is empty.
This happens with version 188.8.131.52 (in Debian Linux and Kubuntu 14.10) and not with version 184.108.40.206.
I can not confirm in Writer with Version: 220.127.116.11.alpha0+
Build ID: a2fa9e2468aa5c4fd4b610c5d0ebc8959e87a072
TinderBox: Linux-rpm_deb-x86_64@46-TDF, Branch:master, Time: 2015-02-23_02:34:05
Can not reproduce either.
In a freaky case like this, you should try this: https://wiki.documentfoundation.org/User_Profile#Resolving_corruption_in_the_user_profile
Set to NEEDINFO.
Change back to UNCONFIRMED, if the problem persists after deleting user profile. Change to RESOLVED INVALID, if the problem went away.
Win 7 Pro 64-bit, LibO Version: 18.104.22.168
Build ID: 45e2de17089c24a1fa810c8f975a7171ba4cd432
Ubuntu 14.10 64-bit
Build ID: 40m0(Build:2)
I've tested it again on KaOS (with Libreoffice version 22.214.171.124) and in Kubuntu 15.04 (beta 1) with LO versions 126.96.36.199 and 188.8.131.52.
In both cases I was using a live image running from USB so I think both user profiles should be clean.
Steps to reproduce:
1 - open a new writer document
2 - write a word on the document
3 - select that word and insert an hyperlink (Ctrl+K)
A window shows up with the option to introduce a web link. The selected word is on the text field - this is as expected.
If one selects the option to insert a hyperlink to a document, the text field is blank (the selected word should still be in the text field).
This behaviour also occurs if one chooses to insert a hyperlink to a Mail & News of to a New document.
I can confirm with Version: 184.108.40.206.0+
Build ID: 8106e522c4ea2ae4441ec571579a38eeb6d9af04
TinderBox: Linux-rpm_deb-x86_64@46-TDF, Branch:libreoffice-4-4, Time: 2015-03-13_12:39:32
steps from comment 3
works OK in 4.3.3 -> regression
*** This bug has been marked as a duplicate of bug 86845 ***