If you have a development host and a production host, the database names will be the same. I think the value of the having the new field goes away if you exclude the hostname. You won't know what host the object you are selecting belongs to. That could be the difference between modifying an object in development and production.
It seems to me that what you could say about the display name is what could be said about the connection's display name in the tree control since this is what is displayed (plus the database name).
What the patch displays answers the questions, "What connection am I on?" "What database am I on?"
I guess I can work on adding another patch that allows you to customize what is displayed using frmOptions...?