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Dear Jim,
Based on my test, the links in table of figures should work after you click on Ctrl+Click in a shared file in Word for the web or the Word application like the following.
Click on Test2 and you will be redirected to Test2 on Page2 in Word for the web and the Word application.
May I know whether the issue occurs suddenly? If yes, what did you do before the issue occurred?
If you create a simple file with table of figures at your side and share it with a user, will the issue also happen?
Does the issue occur in both the Word application and Word for the web in your environment?
Welcome to share any updates at your convenience.
Thanks for your effort and time.
Sincerely
Cliff | Microsoft Community Moderator