I'm amazed by how dumb and severe the icon label truncation is. That screams to me that it was designed without testing it with real content. How can anyone see Network C…, Network P…, Network P… in the preference panel and not wonder if the truncation is too agressive?
Truncation like that also happens on the Mac when the Finder's grid spacing is set too tight. They may have overlooked it for the screenshot.
Besides, truncation in OS X is much much smarter:
Notice how the tracking (spacing between letters) in the first item gets tightened to make it fit? It looks a little squished, but it's much preferable to reading dots.
The last item had to be truncated, but it happens in the middle and keeps the useful end information visible.
I was being honest when I said I was amazed at the GNOME truncation. I think an operating system UI that can't handle the names of its killer apps (e.g., OpenOffic…) lost its way somewhere.