It sounds like it is storign the proper value(the url) but on a followup email he want to dispaly a nice name and the url to go in the link. You can't do conditinals in the {{}} tokens nor nest them.
Top possible ways to do it:
Create a segment in the email body and segment by the Url field. This will duplicate the content but you can then change the link text on each.
- OR -
Create a second custom field(
field type Name) and add it as a hidden field on the form. Then add custom Javascript to the landign page where the form is rendered to hook onto the controll where they select the content. When it changes it automaticaly puts its value(the url) in its field. Add custom code here to have it take the display value(the name) and assign it to the second hidden field. In this way the resulting email or thank you page can use both variables.