The short character limit was definitely a pain for both the title and the description in Photosynth 1 highlights.
I know that the reason for the short titles was that they needed to be no wider than the highlight reel on the right hand side of the viewer and I can also understand wanting to keep highlight descriptions reasonably concise but I found several times that I did not have space to transcribe the entire inscription on a statue that the highlight was showcasing, so had to make some creative edits to still convey the essence.
Far preferable would be to be able to include the entire inscription so that others could translate the text seen in the highlight, if they don't speak the observed language.
One thing that I miss about each highlight having its own title is seeing the synth highlight titles in the overhead view of a synth.
With Bing Maps on the verge of bringing back a 3D map control and synth linking also looming, I'd like that feature back.