Try:
www<span style="font-size:1px; color:#ffffff;"> </span>.deadlink.<span style="font-size:1px; color:#ffffff;"> </span>com
Make sure there's a blank space between the <span> </span>.
About a decade ago I reused an email template I had created for another client, changing the text, logos, colors, address, etc...... but forgot to update the phone #. The client overlooked it as well during approvals.
The email went out, and that's when the client called saying the phone # was incorrect. I had to call the previous client (who had already begun receiving phone calls from this email), and provide them the correct phone # to give to callers.
UGH, embarrassing. Never made that mistake again!
Use a standard width attribute to cover Outlook (such as width="600"), then add a style to the image tag with style="width:100%; max-width:600px; height:auto; min-height:1px; display:block;"
A temporary ugly fix is to wrap your image with VML. Just change the width of the v:rect object style to match the image, and the height is auto due to the textbox mso-fit-shape-to-texture.
<!--[if gte mso 9]><v:rect xmlns:v="urn:schemas-microsoft-com:vml" stroke="false" style="border:0; display:inline-block; width:650px"><v:textbox inset="0,0,0,0" style="mso-fit-shape-to-text:true"><![endif]-->
<div align="center"><img src="http://www.lorempixel.com/650/400/abstract" alt="" width="650" border="0" class="" style="outline:none; text-decoration:none; -ms-interpolation-mode: bicubic; display:block; margin:0; border:0; width:100%; max-width:650px; height:auto; min-height:1px;" /></div>
<!--[if gte mso 9]></v:textbox></v:rect><![endif]-->
Note: it doesn't work in all scenarios, and seems better for taller images like banners.
Just confirmed it rolled out here. Excellent work uncovering the underlying issue!!!
It might be a slow roll out at the moment if that's the case. Mine is still showing the <div> and <button> wraps in both Outlook.com and Office365.
Should also mention, those using fluid/hybrid layouts with side-by-side <div>'s, you'll want to do something like this:
div,button { margin:0 !important; padding:0 !important; display:block !important; }
.ib { display:inline-block !important; }
and assign class="ib" to those <div>'s.
Put this in your head styles to resolve:
div,button { margin:0 !important; padding:0 !important; display:block !important; }