When exporting a site log report to excel or csv from the Site Administration / Reports / Logs, the html is not stripped away.
Full HTML is given, rather than the simple name/description, etc.

eg:
Course Time User full name Affected user Event context Component Event name Description Origin IP address

• 9 Sep, 13:09 <a href="http://meg.test.pukunui.net/user/view.php?id=2">Meg James</a> - <a href="http://meg.test.pukunui.net/">System</a> Logs <a href="http://meg.test.pukunui.net/report/log/index.php?id=0" id="action_link540e6f96ee2e61">Log report viewed</a> The user with id '2' viewed the log report for the course with id '0'. web <a href="http://meg.test.pukunui.net/iplookup/index.php?ip=203.206.128.209&user=2" id="action_link540e6f96ee2e62">203.206.128.209</a>