As introduced in, render_link for taxonomy term fields is using entity_uri(). But there is the 'options' part missing in the current implementation.
Additionally it would help, for some entity_uri implementations (e.g. entity_path), if there was more information on the term, and not only the pseudo term object. For most purposes the term name would be fine. So I'd propose to add the name column to the field too. (see ).
I'll post a patch for that in the first comment.
May be related to: