IIRC, there was a bug reported about the MyEclipse label getting messed up and say: %menu.myeclipse.label. I don’t know if this has been fixed, but if you looking for anymore clues, I switched my JVM from 1.6 to 1.5 via eclipse.ini and it happened. Switching back to 1.6 returned the correct label.
Not sure if that helps any, but thought I’d let you know.
Thanks for such a great product!!