Last modified: 2012-11-26 23:32:20 UTC
This currently works for selections within links, but not for zero-length selections. Except if you hit bug 42275, then the inspector icon will appear on every zero-length selection, anywhere, and will chase you forever and ever.
This bug seems to only be triggered by newly created links, not by links that were already present on the page.
This was resolved in the recent inspector rewrite.
Fixed in I38995d4101fda71bfb2e6fe516603507ce820937 and Ibf6b26de299e54ae8688a2653bf5d5538927f8c3