So is there a way not to display the URL/Location link when mousing over?
Not without modifying the browser at a deep level. And if you are going to do that, you don't need to use a bookmarklet.
But you can add a comment to the code to explain it.
Example:
javascript:/*--A-very-short-description--*/document.location=...
I choose to use -
instead of spaces because spaces are encoded to %20
, which is much worse that -
for reading.
This won't hide the code, but it does make the bookmarklet slightly more friendly.
Using this, there is a slight trick that in Firefox and maybe other browsers that sort of "hides" the code. Firefox shows only the beginning and ends of the code, not all of it. So if you code begins and ends with a comment, you can effectively hide the code.
Approximate example:
javascript:/*------------------------*/document.location=.../*------------------------*/
In Firefox this will look something like "javascript:/------------...--------------/"
You can experiment with the details to get the desired result.