We moved this to the component list as it was being used mostly as a layout tool, for quick layout boxes on a page. We will add a new hotspot tool in the toolbar in the next version which will basically be a shaded transparent color box with no border (color and transparency can be changed), which when double clicked on in wireframe mode will bring up the linking dialog to link it to another page. This wil also have the option of flashing for a few seconds in preview mode to let users know where to click

double-clicking doesn't do anything (Safari and Chrome)

same for firefox...things looked good until i realized this is not functional...deal breaker imo