I'm just looking back at this question after all these years and it seem's pretty dumb that I didn't test it out on the console before posting it here. I think I was intimidated by the console back then.
It's valid, but JSHint will give a warning when ternary operators are used in this manner. To disable the warning you should set expr: true in your .jshintrc file.
7
It won't invoke two functions. It will invoke one of your two functions.
javascript:void(true ? alert('t') : alert('f'))