Sorry m8 but not true and there are reason as to why.
The following site explanis the why's and how to overcome this issue so without meaning to step on anyones toes, and not being lazy, I hope this helps you to understand why, and it will help you overcome the problem.
Outlook express is dreadful.... definately stick with outlook i'm yet to find something that's better.
You do know outlook isn't just an email program yeah.
As for your problem, if you type in an address and then press enter straight after does it change into a link? Also is there no hyperlink button. Sorry i don't have it loaded atm and don't wanna open it.