To change the hyperlink path in a word document, I tried using Find and Replace when in field code mode. The field codes updated but the links continued to point to the old address. Finally, after two hours I found the page below:
http://www.fanhow.com/knowhow:Batch_replace_hyperlinks_in_Microsoft_Office_Word_75605456After editing the field codes you must select all content and then refresh the document using the F9 key to update the hyperlinks. However, this only works on Word 2003.