Index: wp-admin/includes/class-wp-links-list-table.php
===================================================================
--- wp-admin/includes/class-wp-links-list-table.php	(revision 18519)
+++ wp-admin/includes/class-wp-links-list-table.php	(working copy)
@@ -44,6 +44,9 @@
 
 	function get_bulk_actions() {
 		$actions = array();
+		
+		$actions['show'] = __('Show');
+		$actions['hide'] = __('Hide');
 		$actions['delete'] = __( 'Delete' );
 
 		return $actions;
@@ -137,6 +140,8 @@
 
 						$actions = array();
 						$actions['edit'] = '<a href="' . $edit_link . '">' . __( 'Edit' ) . '</a>';
+						$actions['show'] = '<a href="' . wp_nonce_url( "link.php?action=show&amp;link_id=" . $link->link_id, "show_" . $link->link_id ) . '">' . __("Show") . '</a>';
+						$actions['hide'] = '<a href="' . wp_nonce_url( "link.php?action=hide&amp;link_id=" . $link->link_id, "hide_" . $link->link_id ) . '">' . __("Hide") . '</a>';
 						$actions['delete'] = "<a class='submitdelete' href='" . wp_nonce_url( "link.php?action=delete&amp;link_id=$link->link_id", 'delete-bookmark_' . $link->link_id ) . "' onclick=\"if ( confirm( '" . esc_js( sprintf( __( "You are about to delete this link '%s'\n  'Cancel' to stop, 'OK' to delete." ), $link->link_name ) ) . "' ) ) { return true;}return false;\">" . __( 'Delete' ) . "</a>";
 						echo $this->row_actions( $actions );
 
Index: wp-admin/link.php
===================================================================
--- wp-admin/link.php	(revision 18519)
+++ wp-admin/link.php	(working copy)
@@ -85,6 +85,30 @@
 		exit;
 		break;
 
+	case 'show' :
+		$link_id = (int) $_GET['link_id'];
+		check_admin_referer('show_' . $link_id);
+		
+		$link_data = (array)get_link_to_edit($link_id);
+		$link_data['link_visible'] = 'Y';
+		wp_update_link($link_data);
+		
+		wp_redirect($this_file);
+		die();
+		break;
+		
+	case 'hide' :
+		$link_id = (int) $_GET['link_id'];
+		check_admin_referer('hide_' . $link_id);
+		
+		$link_data = (array)get_link_to_edit($link_id);
+		$link_data['link_visible'] = 'N';
+		wp_update_link($link_data);
+		
+		wp_redirect($this_file);
+		die();
+		break;
+
 	case 'delete' :
 		$link_id = (int) $_GET['link_id'];
 		check_admin_referer('delete-bookmark_' . $link_id);
Index: wp-admin/link-manager.php
===================================================================
--- wp-admin/link-manager.php	(revision 18519)
+++ wp-admin/link-manager.php	(working copy)
@@ -18,9 +18,9 @@
 
 if ( $doaction && isset( $_REQUEST['linkcheck'] ) ) {
 	check_admin_referer( 'bulk-bookmarks' );
-
-	if ( 'delete' == $doaction ) {
-		$bulklinks = (array) $_REQUEST['linkcheck'];
+	
+	$bulklinks = (array) $_REQUEST['linkcheck'];
+	if ( $doaction == 'delete' ) {
 		foreach ( $bulklinks as $link_id ) {
 			$link_id = (int) $link_id;
 
@@ -29,6 +29,18 @@
 
 		wp_redirect( add_query_arg('deleted', count( $bulklinks ), admin_url( 'link-manager.php' ) ) );
 		exit;
+	} elseif ($doaction == 'hide') {
+		foreach($bulklinks as $link_id) {
+			$link_data = (array)get_link_to_edit($link_id);
+			$link_data['link_visible'] = 'N';
+			wp_update_link($link_data);
+		}
+	} elseif ($doaction == 'show') {
+		foreach($bulklinks as $link_id) {
+			$link_data = (array)get_link_to_edit($link_id);
+			$link_data['link_visible'] = 'Y';
+			wp_update_link($link_data);
+		}
 	}
 } elseif ( ! empty( $_GET['_wp_http_referer'] ) ) {
 	 wp_redirect( remove_query_arg( array( '_wp_http_referer', '_wpnonce' ), stripslashes( $_SERVER['REQUEST_URI'] ) ) );