jimbeetle - 3:35 pm on Jun 21, 2013 (gmt 0)
If the links are nofollowed there should be no fear of a penalty of any sort from an SE.
But I really have to question the purpose: Which one of your visitors is going to read a list of 200 links? Why the heck are the links there?
And how much of your page weight is links as opposed to content?
And if you have to resort to tricks to mask the links then it's probably better to get rid of them.