Very annoying issue about truncate the title of products can be solved easily:
Find file: /design/backend/templates/views/products/manage.tpl
and replace:
{$product.product|truncate:80 nofilter}
with:
{$product.product|truncate:80 nofilter}
After saving changes the products title will be shortened to 80 chars (default only 40).
Please mind: Some SEO experts also recommend keeping page titles under 70 chars.