It will never work with the IFrame module, it used to handle urls inside querystrings some years ago, however that is like playing russian roulette with your site. You don't havecontroll over your querystrings, so we could send for example mails with links like

http:/mytrustedattorney.com/?url=www.devilsadvocat.hell

Open links in new pages requires only the additional attribute target="_blank" in your a link.

For example create a new column with datatype calculated column and expression:
'<a href="' + [Attorneys Profile_UDT_Url] +'" target="_blank" >' +[Attorneys] + '</a>'

Or use these tokens in the token2xsl editor:
<a href="[Attorneys Profile_UDT_Url]" target="_blank" >[Attorneys]</a>

I believe that I am having the problem you describe in the post.  After upgrading to 5.0.1 I found that the Contacts module no longer displays the email addresses, and after trying the new form and list module and ading an email field, they don't display there either.  If I change the field type to text, the text of the email address displays but is not a clickable link.  The site is one I maintain on a for a small sports association but is not a "mission critical" application but I would like to have it working right.  If a hotfix is available I would like to put it in.  Thanks in advance.