Hey Trevor -
A couple of things here. First, I would never recommend that someone use obfuscated Javascript on links in order to make it so that the crawlers cannot see them.
Also, I think the "too many links on a page" guideline is not one to follow too strictly. It's not an "error" in the Moz Pro Campaigns because it is a guideline. Depending on your site, you can have many more than 100 links on a page and be fine. Or, you can use other ways (iframes, nav behind Javascript) to have these links available to the crawlers.
Just remember (as I am sure you do) that these links will not pass any link juice and you will need to use other ways to get your pages indexed and to have a good crawler-friendly architecture.
Just my two cents. I don't think you'd be cloaking, but it's starting to get a bit iffy. I'd steer clear.
