Version:            (using Devel)
Installed from:    Compiled sources
Compiler:          gcc 4.2.3 
OS:                Linux

Especially at small sizes, the text ocuppies a large fraction (up top 50%) of an Icon applet when it's placed on the Desktop. Also, if the size is small, the text is shortened until it just says "...", making it an absolute waste of space. Since it's redunant anyway - there's still the icon and on the panel it works without text, too - I suggest to offer an option to completely disable it. this might even be the default behaviour, at least at small sizes where the text is useless.