Office Live doesn't support too mnay properties for Hyperlink, so you can't create a page anchor to navigate inside the page. Also the FAQ page is buggy and useless.
We just give you a temporary solution for it. We believe Office Live has to have more properties for Hyperlink.
You can use "Date modified" toolbar to implement.
Step 1:Add a "Date modified" at your target position, put a meanful words as "Reference Text", select Time format and Date format as none. Click "OK". Here is the screen shot

This is my first target position(I will create a link at bottom and back here )
Step 2: Click save and click View at top. Here is the screen shot

Step 3: Click mouse right button on browser, there is a popup, select View Source

Step 4: Use "Find" function to search ctl00_IWS_WH_CPH_Content_LMTControl

You will find ctl00_IWS_WH_CPH_Content_LMTControl with a id number after it. ctl00_IWS_WH_CPH_Content_LMTControl1 is the id for the Date modified, we use the id as a anchor.
Step 5: Add a link . Select "My Page", choose current page, click OK.

Step 6: Then put #ctl00_IWS_WH_CPH_Content_LMTControl1 after your page url.

* If you want put multiple anchor on same page, the id number on id will be increased by 1 to 2,3,... so id will be ctl00_IWS_WH_CPH_Content_LMTControl2, ctl00_IWS_WH_CPH_Content_LMTControl3 . If you delete a one, the id number will be not reordered, this is good thing. But if you add a new Date modified after delete some Date modified, it's id number will be the first available number. Example, you have 1,2,3,4 id numbers. If you delete 2,3, then you add a new one, the id number will be 2.
Here is sample go back to "This is my first target position"