I am not 100% sure I understand the question.
An online link to Geocaching.com is automatically created. However I suspect what you are asking is the ability to link to a web page (HTML) offline? That way you can view the HTML without being connected to the Internet.
Yes, you can do this.
Firstly, you must tell GSAK to generate the HTML pages. File=>Export=>Html. Pay attention the "Folder name" you enter here
Secondly you must tell the S&T export that you want to use these files rather than the online link. You do this by ticking the box "Use local URL for each waypoint" and enter the folder as per the first step, but appending "\cache" to it (when GSAK generates offline HTML it creates a folder called "cache" in the folder you specify for the output)
Thanks Clyde,
that's exactly what I meant... Glad I don't have to enter the local URL for each waypoint by hand.
Droo