Please revise if you see in designer the columns or rows. Columns haven't text, because they have differents data in each cell (normally). I can not found "text" in the designer, you can also only give the tooltip and header text.
If you want to have a default value in the column, you must create a derivated class from DataGridViewLinkCell and override the DefaultNewRowValue
see the following example (dirty example, you should create a new file for the derived class):
public partial class Form1 : Form
DataGridViewLinkCell cell = new NewDataGridViewLinkCell();
cell.UseColumnTextForLinkValue = true;
DataGridViewColumn column = new DataGridViewColumn();
column.CellTemplate = cell;
public class NewDataGridViewLinkCell : DataGridViewLinkCell
public override object DefaultNewRowValue
return "My Text";
Observe that now, you instance NewDataGridViewLinkCell and you can enter a predefined test each time that a new row is created.