(click image to enlarge)
The underlined text is all clickable, and you can hover over it with the mouse to see what happens when you click.
I'm still having a couple of problems though - the first is the colouring (which is stripped), and the second is the link extending beyond the highlighted text. If these can be resolved, Mudlet will be able to take full advantage of my mud's MXP features.
On another note, I managed to get the function keys working.