Opening Parent Item in Template Field

We have a Template field with the following:
{{CollatCity__c}}, {{StateLookup__c}} {{CollatZip__c}}
County: {{CountyLookup__c}}
StateLookup__c and CountyLookup__c are lookup fields. When we click on them nothing happens but when we move the field out of the template and click it, the parent opens fine. Why does the link not work when the field is used in a template? Thanks in advance.