codice:
Public Enum OpType
    Startup = 1
    Click = 2
    FormMove = 3
    LinkMove = 4
End Enum
Dim Clicked As Boolean
Private Declare Function ShellExecute Lib "shell32.dll" _
    Alias "ShellExecuteA" (ByVal hwnd As Long, _
    ByVal lpOperation As String, _
    ByVal lpFile As String, _
    ByVal lpParameters As String, _
    ByVal lpDirectory As String, _
    ByVal nShowCmd As Long) As Long
Private Sub Form_Load()
    MakeLink Label1, Startup
End Sub

Private Sub Form_MouseMove(Button As Integer, _
        Shift As Integer, X As Single, Y As Single)
    MakeLink Label1, FormMove
End Sub

Private Sub Label1_Click()
    MakeLink Label1, Click, Me
End Sub

Private Sub Label1_MouseMove(Button As Integer, _
        Shift As Integer, X As Single, Y As Single)
    MakeLink Label1, LinkMove
End Sub

Public Sub MakeLink(LabelName As Label, _
        Operation As OpType, Optional FormName As Form)
    Dim Openpage As Integer
    Select Case Operation
        Case LinkMove
            LabelName.ForeColor = 255
            LabelName.FontUnderline = True
        Case Click
            Openpage = ShellExecute(FormName.hwnd, _
                "Open", LabelName.Caption, "", App.Path, 1)
            LabelName.ForeColor = 8388736
            Clicked = True
        Case FormMove
            LabelName.FontUnderline = False
            If Not Clicked Then
                LabelName.ForeColor = 16711680
            Else
                LabelName.ForeColor = 8388736
            End If
        Case Startup
            LabelName.ForeColor = 16711680
    End Select
End Sub
Ciao.