There was one error in my illustration above since I had copied the URL of a different kind of resource, not a hotpot file. It should have read:
Now click on this <a href=http://www.mymoodlehost.com/moodle/mod/hotpot/view.php?id=94>link</a> to do a hotpot exercise.
Other than that, if you have the angle brackets in the right place, it should open up the hotpot resource NOT show the code. If you want the lesson to 'stay put' in the current window, you can force the activity to appear in a new window by adding "target='new'" to the link specification like this:
Now click on this <a href='http://www.mymoodlehost.com/moodle/mod/hotpot/view.php?id=94' target='new'>link</a> to do a hotpot exercise.