Denis, just to test a bit more, I created two more hyperlinks, one with a "excel file" and the other with a "MS access file". The file name does not contain any spaces. After opening BI Launchpad on my desktop, I tied launching the Hyperlinks. These do not launch either.
Another observation: The Opendocument link references the Hyperlink CUID correctly.
I also researched a bit more and figured that there seems to be an issue with Tomcat 7 and wmv files in BI 4.1 vs Tomcat 6 in BI 4.0
Thanks
Ashwin