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Hi Tyler,
I would like to explain that if you change the Font Color of the Hyperlinks, the underline will be removed.
For the question:” If I Cmd-K a name for the hyperlink it removes my formatting and goes back to the default.”
I need to tell you it will renew to default, as you have change the Text to display.
If you want to change to white color, we need to add Text Highlight Color before change Font Color. Meanwhile, the Font Color will go back to the default.
Therefore, we suggest you submit feedback in our OneNote UserVoice. Many new features came directly from customer's feedback.
We appreciate your understanding.
Qing