In OSP forms, when a mailto link or a link to a named anchor is included in the content of a WYSIWYG field, the link is stripped out when the form is saved. This occurs regardless of whether the source is edited by hand or the hyperlink tool is used to create the link. These links are preserved in other tools that use the FCK editor, so the problem appears to be specific to Forms.
This seems to be caused by processAnchor(String anchor) in FormattedText.java by removing quotes and not replacing them correctly.
I have attached a patch that fixes this issue. Please review and determine if this patch doesn't have any negative consequences.
Related to: http://jira.sakaiproject.org/browse/SAK-17953