I take it you are referring to the subject shown in the folder list - the actual subject line in the message is not altered at all.
The displayed Subject length is limited by the current folder structure - what you see in the folder list are the entries in the folder index. I know there are plans to update this format, but I have not heard of any timescales.
Dear David Harris
I would also like very much that this is changed!
I have used Pegasus for about 14 years, and I have always felt that this limitation was so obviously inconvenient, that it would be corrected in the next release, but that never happened. I think that if this had been solved, then I would have paid for the program.
IF you remove the truncation of the displayed subject-line in the folder-view, then I will happily pay for my copy of Pegasus!
- Henrik Rosenø