You do it with your Links settings (under Appearance settings, paintbrush icon in inspector panel).
Create your HTML box and add your linked text.
Select your HTML box a white background.
Select your HTML box and style your linked text with in the Links are of Appearance settings (hover, active, etc.), making your hovered link text white.
Click on the bottom of the Links are that says More.
For each state, click on Extended and add display in the Name field and block in the Value field. (I had to add this in every field in order to get it to work.)
In the Hover state only, also add in the Extended area background-color in the Name field and the color number you want for the red, e.g., #CCCC99. Or, you can actually just put in red, since it’s one of those basic colors.