Yes, but only the active option has the underline. And the purple customarily indicates a previously-followed link, so . . .
I'll try to explain my point better. I find the current typography counterintuitive because the active option has the underline. The inactive option is plain black. On typical Web pages, if you want to do something, such as go to another page or change a current setting, you click some text that's colored, underlined, or both. Plain black text usually isn't clickable. In FYEO, however, the reverse is true.
My settings are: allow PMs and do not send notifications. Screenshot:
About the color, yes, purple is standard for used links, but elsewhere on POTN, for notifications and unread PMs, purple means "Click me to do something."

