Index: wp-admin/includes/class-wp-links-list-table.php
===================================================================
--- wp-admin/includes/class-wp-links-list-table.php	(revision 18759)
+++ wp-admin/includes/class-wp-links-list-table.php	(working copy)
@@ -44,7 +44,10 @@
 
 	function get_bulk_actions() {
 		$actions = array();
-		$actions['delete'] = __( 'Delete' );
+		
+		$actions['show'] = _x( 'Show', 'link' );
+		$actions['hide'] = _x( 'Hide', 'link' );
+		$actions['delete'] = _x( 'Delete', 'link' );
 
 		return $actions;
 	}
@@ -137,7 +140,12 @@
 
 						$actions = array();
 						$actions['edit'] = '<a href="' . $edit_link . '">' . __( 'Edit' ) . '</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." ), $link->link_name ) ) . "' ) ) { return true;}return false;\">" . __( 'Delete' ) . "</a>";
+						if($link->link_visible == 'N') {
+							$actions['show'] = '<a href="' . esc_url(wp_nonce_url( admin_url( 'link.php?action=show&link_id=' . $link->link_id ), 'show-bookmark_' . $link->link_id )) . '">' . __( 'Show' ) . '</a>';
+						} else if($link->link_visible == 'Y') {
+							$actions['hide'] = '<a href="' . esc_url(wp_nonce_url( admin_url( 'link.php?action=hide&amp;link_id=' . $link->link_id), 'hide-bookmark_' . $link->link_id )) . '">' . __( 'Hide' ) . '</a>';
+						}
+						$actions['delete'] = "<a class='submitdelete' href='" . esc_url(wp_nonce_url(admin_url( "link.php?action=delete&link_id=$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 );
 
 						echo '</td>';
Index: wp-admin/link.php
===================================================================
--- wp-admin/link.php	(revision 18759)
+++ wp-admin/link.php	(working copy)
@@ -85,6 +85,30 @@
 		exit;
 		break;
 
+	case 'show' :
+		$link_id = (int) $_GET['link_id'];
+		check_admin_referer('show-bookmark_' . $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-bookmark_' . $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 18759)
+++ wp-admin/link-manager.php	(working copy)
@@ -18,18 +18,34 @@
 
 if ( $doaction && isset( $_REQUEST['linkcheck'] ) ) {
 	check_admin_referer( 'bulk-bookmarks' );
-
-	if ( 'delete' == $doaction ) {
-		$bulklinks = (array) $_REQUEST['linkcheck'];
-		foreach ( $bulklinks as $link_id ) {
-			$link_id = (int) $link_id;
-
-			wp_delete_link( $link_id );
+	
+	$bulklinks = (array) $_REQUEST['linkcheck'];
+	switch($doaction) {
+		case 'delete':
+			foreach ( $bulklinks as $link_id ) {
+				$link_id = (int) $link_id;
+	
+				wp_delete_link( $link_id );
+			}
+	
+			wp_redirect( add_query_arg('deleted', count( $bulklinks ), admin_url( 'link-manager.php' ) ) );
+			exit;
+		break;
+		case 'hide':
+			foreach($bulklinks as $link_id) {
+				$link_data = (array)get_link_to_edit($link_id);
+				$link_data['link_visible'] = 'N';
+				wp_update_link($link_data);
+			}	
+		break;
+		case '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);
+			}
+			break;
 		}
-
-		wp_redirect( add_query_arg('deleted', count( $bulklinks ), admin_url( 'link-manager.php' ) ) );
-		exit;
-	}
 } elseif ( ! empty( $_GET['_wp_http_referer'] ) ) {
 	 wp_redirect( remove_query_arg( array( '_wp_http_referer', '_wpnonce' ), stripslashes( $_SERVER['REQUEST_URI'] ) ) );
 	 exit;