You should actually just be able to use it in both places really.
<td> <a href="<STRONG><s>**</s><?php echo Format:($row); ?><e>**</e></STRONG>"><?php echo Format:($row); ?></a></td>
That should work.
EDIT: If that doesn't work, try dropping the "Format:()" from the code.
<td> <a href="<STRONG><s>**</s><?php echo $row; ?><e>**</e></STRONG>"><?php echo Format:($row); ?></a></td>