I was thinking about this question today and had an idea: instead of putting a fake URL, link to a ROT-13 site like decode.org with a URL that decrypts to the desired text. Thus, if you wanted to say "Snow is white" in a spoilered fashion:
[Spoiler](http://decode.org/?q=Fabj+vf+juvgr "Snow is white").
equals
rot13.com is a service frequently used here to hide spoilers. I really hate it, though. If I had the time, I would build a simple, but much better alternative. Maybe somebody has more time to do that, so I'll share my rough specification:
The only important design problem I don't know how best to solve is making the encryption work for Unicode, with the following three constraints: making it a reciprocal cypher, outputting visually nice strings, and making it map ASCII to ASCII. One possible solution is to drop the constraint that it is a reciprocal cypher. For this service it is probably not crucial anyway: the ciphertext can be base64, with some escape prefix distinguishing it from plaintext.
After writing the above, I found this LW thread: Does anyone else find ROT13 spoilers as annoying as I do? There were several suggestions there, and two of the commenters, sketerpot and LightningRose even coded their own solutions to the spoiler problem. Each solution had some merit, and LightningRose's in particular was far superior to the rot13.com site I used to use, but basically, they only dealt with the third point of my proposal.
Is there anything like what I envision? Is anyone interested in building it? What changes or extra features would you like to see?