I am using the truncateNicely Tag with a lower limit of 110 and upper of 130. It works fine except for strings whose length falls in the range between the two. I have a string "The PowerStar 4600 is a state of the art departmental server providing high availability and excellent data protection." which is of 120 characters. Since it cannot find a space, it tries to get the substring using the upper index which doesnt exist for that string and hence I get an out of range exception.
Tim Kettering has provided a patch to fix this [the initial code is his though he's not a committer yet]. It's committed as of 5 minutes ago and will go into the nightly build tonight.