Yes. After you have set up your Custom Field you can either use the Hotspot Wizard or the Custom Field Properties dialog to create hotspots in a Custom Field.

To use the Hotspot Wizard to create a hotspot for a single field, select Insert from the menu bar, then Hotspot from the pull-down list. The mouse pointer shape changes to the hotspot pointer. Click on the custom field that you want to use. The Hotspot Wizard displays. Follow the prompts to create your hotspot.

Click Data/Custom Field Properties. Select the new hotspot field. Click on Hotspot Attachment. Click on the down arrow under "Select the field you wish to activate the hotspot." The default is name if you do not select something else. If you attach multiple hotspots to a field, a menu will pop up with the hotspot options. This is Smart Links.