To-do items beautifully fade into the background when checked off. Except when the item contains a link, in which case the link color doesn’t change, making it continue to feel like an important to-do item.
I think links should fade as well, either to a muted version of the active theme’s link color, or to the same light grey color as any other completed item.
I’m not sure what you mean by “target” the pencil icon, but that’s a great point. Sounds like a muted red is the move.
By “target” the pencil icon I mean “click” the pencil icon which will require more precise aiming compared to a full link.
A muted red (pink) would be nice for Red Graphite, but the other color schemes would benefit from something in their color palette. 
