Internally, hyperlinks are stored as style attributes (which is true of any Cocoa app that uses the system’s built-in rich text support). But we apparently don’t surface that style attribute via AppleScript. (I just tried properties of style of attribute run 1 of cell… and got a record with just the font attribute). So I’m afraid there might not be a way to do what you want
Its just that you are using the wrong attribute. The correct object to use to address the hyperlink attribute of the first word of the first row is:
attribute "link" of style of word 1 of rich text of Cell "Topic" of row 1
Using this syntax its possible to set the hyperlink of any character, word or paragraph.
Frederiko