I just posted version 1.3 of TabLinks. It doesn’t fix all of the things I eventually want to fix, but it does do some rudimentary entity encoding that allows you to actually use HTML tags in the templates. I had said that
<a href="%u">%t</a> would work as a template, but it didn’t. Now it does.
The automatic update is functioning, so anyone with TabLinks already installed should see it show up in their updates, or just update automatically if you have that option enabled. This version should show up as 1.3. If you’re looking for the initial install, you can find it below.