Cannot Rename Files With Url Extension

I dragged a web address off and Windows created a shortcut. I was able to change the extension to .txt. The icon changed to that for a text file, and I could open the file and read it.

Since then, though, the url extension does not show up. If I select Rename and add .txt to the part of the filename showing, it evidently retains the url extension after the .txt extension because the icon doesn't change to the one for a text file, I'm not allowed to edit it, and selecting open results in it opening the web page - i.e., acting like it is still a .url file.

I have checked Tools -> View many times and the box for hiding common extensions is unchecked so that is not the problem.