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Analysing an email is quite easy:

In your email program (e.g. Outlook, Outlook Express, or LiveMail) right-click on the header and select "Properties"; click on the "Details" tab and then the "Message source". As a result, you will see the text in a Notepad window.

If it's formatted as html, pay special attention to the links, return addresses, especially where the contents of commands and visible text differ.

The text may for example claim to link to http://anz.com.au... but the <a> command may link to the href="http://www.myredirection.com".

Hidden text like the one your example showed in blue is often the result of a cut/paste job, where the fraudster adapts a "template" for his own purpose; there are scores of websites and "User Groups" that share these tools. Some use tags just like grafitti vandals do; or it may simply be laziness, where the layout was ripped out from a website script without bothering to remove the underlying text.