After an upgrade to WordPress 3.5, I could not add hyperlinks when writing a blog post, nor could a change to the Text editor from the Visual editor. It turns out that my theme, Arjuna X, somehow breaks this functionality. To fix it, see this blog post:

http://wordpress.org/support/topic/arjuna-x-breaks-wordpress-35/page/2?replies=44#post-3708545

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