I can't get into calibre at the moment to check for sure but I'm fairly certain the answer is yes.
You would create a custom column using the 'Column built from other columns' type and then either the 'contains' or the 'test' function.
It would look something along the lines of:
Code:
{column:test(Link,No Link)}
or
Code:
{column:contains(value,Link,No Link)}
Change the bold text for the appropriate column/values. I suspect the 'test' function is what you want as it's a true/false value while 'contains' expects to match a certain pattern. You can read more about them here:
http://manual.calibre-ebook.com/temp...l#if-then-else
http://manual.calibre-ebook.com/temp...-function-mode