below is my markup. when i move the mouse over the hyperlinks they get underlined and turn red. but if i swap the order of the last two rules, the hyperlinks still get underline
Yes, it does. The last point of the cascading order reads:
Finally, sort by order specified: if two declarations have the same weight, origin and specificity, the latter specified wins. Declarations in imported style sheets are considered to be before any declarations in the style sheet itself.