Index: sites/all/modules/views/handlers/views_handler_field.inc
===================================================================
--- sites/all/modules/views/handlers/views_handler_field.inc	(revision 3606)
+++ sites/all/modules/views/handlers/views_handler_field.inc	(working copy)
@@ -342,6 +342,7 @@
     $options['empty'] = array('default' => '', 'translatable' => TRUE);
     $options['hide_empty'] = array('default' => FALSE);
     $options['empty_zero'] = array('default' => FALSE);
+    $options['hide_alter_empty'] = array('default' => FALSE);
 
     return $options;
   }
@@ -722,9 +723,16 @@
       '#type' => 'checkbox',
       '#title' => t('Hide if empty'),
       '#default_value' => $this->options['hide_empty'],
-      '#description' => t('Do not display anything for this field if it is empty. Note that the field label may still be displayed. Check style or row style settings to hide labels for empty fields.'),
+      '#description' => t('Do not display this field if it is empty. Note that the field label or rewritten output may still be displayed. To hide labels, check the style or row style settings for empty fields. To hide rewritten content, check the Hide rewriting if empty checkbox.'),
     );
 
+    $form['hide_alter_empty'] = array(
+      '#type' => 'checkbox',
+      '#title' => t('Hide rewriting if empty'),
+      '#default_value' => $this->options['hide_alter_empty'],
+      '#description' => t('Do not display rewritten content if this field is empty.'),
+    );
+
     $form['empty_suffix'] = array(
       '#value' => '</fieldset>',
     );
@@ -827,7 +835,7 @@
       $value = $this->render_altered($alter, $tokens);
     }
 
-    if ($this->options['hide_empty'] && empty($value) && ($value !== 0 || $this->options['empty_zero'])) {
+    if ((($this->options['hide_empty'] && empty($value)) || ($this->options['hide_alter_empty'] && empty($this->original_value))) && ($value !== 0 || $this->options['empty_zero'])) {
       return '';
     }