I had this happen, but it wasn't related to onenote. See:
http://support.microsoft.com/kb/310049
If this isn't your issue, then I would poke around some more on the support website.
"Dave C" wrote:
[Quoted Text] > Why can't I get the hyper link to work when I get an email that has a hyper > link included in the text. I get the following message > > This operation has b een canceled due to restrictions in effect on this > computer. Please contact you system administrator. > > Thanks > > Dave
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