Really ? In /components/com_joomlawatch/config.php there are parameters where you can specify how many characters you want to see from url and from title as well.
define('JOOMLAWATCH_TRUNCATE_VISITS',40); // maximum characters to be shown in long titles and uris
define('JOOMLAWATCH_TRUNCATE_STATS',20); // maximum characters to be shown in right statistics panel
so you can change this and have long urls.
Regarding the long log problem, I haven't experienced this. Is there someone who has the same problem that old records are not deleted ? There are parameters for this in config.php as well.
And regarding "step backward" - it's your oppinion, you can use 1.0.3 if you want