I don't know the answer to your question, but I know the answer to a different question :) I just wonder if you need Text::Wrap? There's probably some other reason why you're using it, but if you're just concerned about url wrapping, and you're writing simple ascii emails, I'd have thought that you could solve any problems you might have by proper url encoding, in particular making sure there are no spaces in the url. I do something that looks exactly like what you're doing, and I feed my email messages straight to Mail::Sendmail and they come out fine, long urls wrapped automatically.
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George Sherston