Links broken on node page, fine on views preview

Using:
Drupal 7.0
Views 7.x-3.0-alpha1
Link 7.x-1.x-dev

I have a view where I have included two fields: an image field and an associated link/URL field. I wish to have the image nest in an anchor tag to the associated site. For example, the first item in the list should output:

<div class="views-slideshow-cycle-main-frame-row-item views-row views-row-0 views-row-first views-row-odd">
  <a href="http://www.exturl.com" class="views-ajax-processed-processed">
    <div class="field field-name-field-co-logo field-type-image field-label-hidden">
      <div class="field-items">
	<div class="field-item even">
	  <img src="http://www.customersite.com/sites/default/files/styles/large/public/company-logos/exturl.gif" alt="" />
	</div>
      </div>
    </div>
  </a>
</div>

and this is what I get in the preview of the views page for the view. Great (well, noisy, possibly invalid, but workable) However, when I go to the page (the view as a block, only display on this one page) I get this noise:

<div class="views-slideshow-cycle-main-frame-row-item views-row views-row-0 views-row-first views-row-odd">
  <a href="/%0A%20%20%20%20%20%20%20%20http%3A//www.exturl.com%0A%20%20">
    <div class="field field-name-field-co-logo field-type-image field-label-hidden">
      <div class="field field-name-field-co-logo field-type-image field-label-hidden">
	<div class="field-items">
	  <div class="field-item even">
	    <img src="http://www.customersite.com/sites/default/files/styles/large/public/company-logos/exturl.gif" alt="" />
	  </div>
	</div>
      </div>
    </div>
  </a>
</div>

As you can see, there's a good deal of noise prefixed to the anchor tag, as well as inserted in the URL itself, and afterward.

How do I fix this?