A quick test to confirm how unapproved urls display
*http://www.jr.com/ *[[http://www.jr.com/]] *[[http://www.jr.com/|Link Alias]]
While the first two items display the unapproved url, the third only displays the alias used in creating the link for the unapproved url:
To be able to view the url that is hidden behind the alias used in creating the link, an administrator would need to edit the config.php file to set the $UnapprovedLinkFmt as shown in the documentation (UrlApprovals) (and quoted below).
If that were activated on this page, the resulting tool tip would display the exact same url text for each of the three items above:
Add the following setting in your local/config.php:
$UnapprovedLinkFmt = "\$LinkText<a class='apprlink' href='\$PageUrl?action=approvesites' title='\$LinkUrl'>$[(approve sites)]</a>";