Formula URL link text change

Can you post the code for the current formula?  I may have an answer depending on the complexity of the URL.

URLRoot() & "db/" & Dbid() & "?a=API_EditRecord" &
    "&rid=" & [Record ID#] &
    "&apptoken=zyah96dfz2bmrrr9h5idzambes" &
    "&_fid_242=BlahBlah(another field)" &
    "&rdr=" &
    URLEncode(URLRoot() & "db/" & Dbid() &
        "?a=dr&rid=" & [Record ID#])


& "Javascript:'DoSaveAdd()'

Sorry, I'm not sure of the format to make that into a hyperlink where an image could be used.  The rdr tends to not work.

I've used formula display as a button on forms and report, and set the link text as something. It works but I want the link text to change.

formula URL*

You cannot change the color by formula on a formula URL field.  it would need to be a different field type.

A low tech solution is to use two buttons and control which shows by formula and / or form rules.

That is the current solution I'm working with (two buttons) but its the link text not the colour of the button i.e. the text that I have chosen 

I want it to change from "Approve" to "Approved

It's is not clear what your question is as I can't see them screen shot clearly. Are you trying to change the Link text or the action if the button?

Link text