I created a View (to be used as data source for Open Layers) containing a "Rendered entity" field (taken care of by Views handler entity_views_handler_field_entity).
In the options pane for this field i selected "Show complete entity" as "Display" setting.
A select list of view modes appeared, and I selected "Teaser" view mode, since that's the one I needed.
Upon rendering of the View output, my "Rendered entity" field had a link wrapped around it, linking to the node detail page.
This is not the intended behaviour.
After some debugging, I found out this was caused by the code
'#dependency' => array('edit-options-display' => array('label', 'id')), for the link_to_entity Form API entry in entity_views_handler_field_entity.inc
Upon removing this line, the checkbox "Link to entity" was shown in all circumstances. In that case I could uncheck it, and everything worked as needed.