Version:            (using KDE KDE 3.4.1)
Installed from:    Compiled From Sources
Compiler:          GCC-3.4.4 
OS:                Linux

Test case (first experiment):

1:  Modify the "Command" of a menu item with the Menu Editor.

2: Add it to a Panel using the right click Panel menu.  You can right click the new icon to see that the "Application -> Command" is the same as what you changed it to in the menu.

3: Again modify the "Command of the same menu item with the Menu Editor.

4: Right click the icon again and check: "Application -> Command".   You will see that the command for the item you *added* to the Panel was changed exactly the same as the change made to the menu item.  It is linked.

Now try the same four steps (second experiment) except for the second step.  Instead, add it to the Panel by right clicking the item in the menu and choosing: "Add Item to Main Panel". You will notice that it is still linked.

Now try the same again (third experiment) except use drag'n'drop to add it to the Panel (drag'n'drop from the KMenu to the Panel).  You will notice that it is NOT linked when you change the Command in step 3.

Now try the first two experiments with a menu item which has NEVER been modified but skipping the step 1.  You will notice that it is *NOT* linked. 

This is not what users would expect.  Since it is linked in some cases, a user would expect that it be linked in ALL cases.