Last modified: 2013-06-03 15:51:31 UTC
If you try to create the following template: [[image:loudspeaker.svg|16px|link=Media:{{{1}}}]] after clicking on the icon user will see a message "there's no such file"; although when you change Media: to Image, everything works fine.
You should be able to use Special:Filepath/{{{1}}} although this is an imperfect solution. Also possibly related is bug 16162
Currently (MW 1.19) the "link=Media:Something.ogg" syntax is accepted but takes us to the file description page instead of actually opening the media file as would be expected: [[File:Something.ogg]] -> opens the file description page [[File:Image.gif|link=File:Something.ogg]] -> opens the file description page [[Media:Something.ogg]] -> links to media file [[File:Image.gif|link=Media:Something.ogg]] -> opens the file description page (should link to media file!)
hmmm, that's kind of odd. NS_MEDIA is special cased in Parser::replaceInternalLinks2 instead of having Title::getLocalUrl output the file's url directly...
