There's no way to "turn these off" so to speak within iWeb directly. You'd have to go into the published HTML code for our pages and edit out the 'title' tags within the 'href' statements. Take a look at this example...
<-a href="http://bondiblue.dirtdoog.com/mantis/" title="Putt-Putt's Favorite Pet Praying Mantis"->
This is what a typical hyperlink looks like in the HTML code (I've used the two dashes "-" to keep the code from being interpreted in this post. The URL that you see is the actual URL that the hyperlink leads to. The title tag defines what shows up in any "tooltips" that you might see or what shows up in the status bar at the bottom of the browser window. Most hyperlinks formed by iWeb, though, will have the target URL as the title as well, so it would look like this...
<-a href="http://bondiblue.dirtdoog.com/mantis/" title="http://bondiblue.dirtdoog.com/mantis/"->
And here is what the real hyperlink would look like... Hover over it and see what it says in the browser status bar and tooltip....
http://bondiblue.dirtdoog.com/mantis/
So you can see how you can edit these title tags for your hyperlinks to say whatever you like. Hopefully, you can also see what an arduous task this might be! This is especially true when you consider that iWeb will overwrite any changes you make to the published HTML code the next time you update the involved pages! Take this into consideration when you are contemplating this kind of editing...