The old default used to be that the title was limited to around 20 characters and after that it is replaced by ...
The new version uses CSS to remove the overflow of characters.
Imagine the title of my product is Ice Cream and the sub-titles are Flavour which I have chosen as Cookie Dough it will look like this
Ben and Jerry's Ice...
Flavour: Cookie D...
The width of the #PPMinicart li a is set at 155px and I tried to change the #PPMinicart li a span width but it was being stopped from being any larger due to li a being set at 155px cutting out the text from the subtitles which I think would look better untouched as they wont overlap anything if they are longer
An excellent point. Let me see about moving that CSS rule so it only applies to the product title and not any of the additional information.
Full customization of the HTML and CSS is available in the 3.0-alpha branch which is due out soon.