Index: link.module
===================================================================
RCS file: /cvs/drupal-contrib/contributions/modules/link/link.module,v
retrieving revision 1.24.4.34
diff -u -p -r1.24.4.34 link.module
--- link.module	14 Jun 2010 18:14:11 -0000	1.24.4.34
+++ link.module	25 Jun 2010 13:46:05 -0000
@@ -715,6 +715,7 @@ function link_token_list($type = 'all') 
     $tokens['link']['url'] = t("Link URL");
     $tokens['link']['title'] = t("Link title");
     $tokens['link']['view'] = t("Formatted html link");
+    $tokens['link']['host'] = t("Link host");
 
     return $tokens;
   }
@@ -727,6 +728,8 @@ function link_token_values($type, $objec
     $tokens['url'] = $item['url'];
     $tokens['title'] = $item['title'];
     $tokens['view'] = isset($item['view']) ? $item['view'] : '';
+    $host = @parse_url($item['url']);
+    $tokens['host'] = isset($host['host']) ? $host['host'] : '';
 
     return $tokens;
   }
Index: tests/link.token.test
===================================================================
RCS file: /cvs/drupal-contrib/contributions/modules/link/tests/Attic/link.token.test,v
retrieving revision 1.1.2.7
diff -u -p -r1.1.2.7 link.token.test
--- tests/link.token.test	14 Jun 2010 18:14:11 -0000	1.1.2.7
+++ tests/link.token.test	25 Jun 2010 13:46:05 -0000
@@ -423,4 +423,57 @@ class LinkTokenTest extends ContentCrudT
 
     $this->assertRaw(l($input['label'], $input['href'] .'/'. $account->uid));
   }
+
+  /**
+   * Creates a link field with a required title enabled for user-entered tokens.
+   * Creates a node with a token in the link title and checks the value.
+   */
+  function testHostTokenLinkCreate() {
+    $account = $this->drupalCreateUser(array('administer content types', 'access content', 'create page content'));
+    $this->drupalLogin($account);
+
+    // create field
+    $name = strtolower($this->randomName());
+    $edit = array(
+      '_add_new_field[label]' => $name,
+      '_add_new_field[field_name]' => $name,
+      '_add_new_field[type]' => 'link',
+      '_add_new_field[widget_type]' => 'link',
+    );
+    $this->drupalPost('admin/content/node-type/page/fields', $edit, t('Save'));
+    $this->drupalPost(NULL, array(
+      'title' => 'required',
+      'enable_tokens' => 1), t('Save field settings'));
+
+    // Is field created?
+    $this->assertRaw(t('Added field %label.', array('%label' => $name)), 'Field added');
+
+    // create page form
+    $this->drupalGet('node/add/page');
+    $field_name = 'field_' . $name;
+    $this->assertField($field_name . '[0][title]', 'Title found');
+    $this->assertField($field_name . '[0][url]', 'URL found');
+
+    $input = array(
+        'href' => 'http://example.com/' . $this->randomName(),
+        'label' => $this->randomName(),
+    );
+    
+    $this->drupalLogin($account);
+    $this->drupalGet('node/add/page');
+
+    $edit = array(
+      'title' => $input['label'],
+      $field_name . '[0][title]' => $input['label'] . " [$field_name-host]",
+      $field_name . '[0][url]' => $input['href'],
+    );
+    $this->drupalPost(NULL, $edit, t('Save'));    
+    $url = $this->getUrl();
+
+    // change to anonymous user
+    $this->drupalLogout();    
+    $this->drupalGet($url);
+
+    $this->assertRaw(l($input['label'] . ' example.com', $input['href']));
+  }
 }