This appears to still be a problem in v1.3.88. Specific issue:
Entering “http://acorn.org” or “www.acorn.org” will be converted to an invalid <a> tag. It looks to be double converting the string resulting in a malformed <a> tag.
I’m not sure why “www” is auto-converted to HTML in addition to ‘http(s)://’. I’d prefer only http(s):// prefix to trigger such a conversion.
The option to disable HTML in Description field has no effect on the resulting output.
Check um-filters-field.php. Functions um_profile_field_filter_hook__textarea and um_profile_field_filter_hook__description.