When I preview emails Outlook.com, the Litmus previews are showing the actual merge tag link:

[%%profile_center_url%%]Manage your subscriptions

In all other email clients, it is showing up without the merge tag like it should but for some reason in Outlook.com, 'Manage your subscriptions' shows the link.

Does this show up in actual emails when they have been sent in Outlook.com? Will this appear as not a link in emails?