Excel generates some instruction text when you hover-over a hyperlink as such...
Can I customize these instructions and set my own text (the "Click once to follow. Click and hold...")
I can say there are two situations.
When you use the Insert Hyperlink command all the parameters are available.
While using the command you have the liberty to customize the Hyperlink. During hover the link, the text which appears is in fact the Screen Tip which can be any text of user's choice.
Other is Text to Display, this replaces the Web Address and appears on the Sheet.
Other Advantage is, the Hyperlink can be modified in terms of Font, Size & Colour while select the Hyperlink and Right Click and hit Format Cell (Ver. 2010 or higher) or in older Versions Modify command can do all these.
But when you use the built-in Hyperlink function, you can't add the Screen Tip. Here Formatting Hyperlink is available but user can't enjoy the Edit Hyperlink command sequence.