--- system_modules.inc	2007-03-20 05:01:29.000000000 +0100
+++ system_modules_new.inc	2007-03-21 12:59:55.000000000 +0100
@@ -30,6 +30,9 @@ function system_modules_util_form_alter(
 {
   if($form_id == 'system_modules' && variable_get('util_system_collapse', 1) == 1)
   {
+    foreach ($form['version'] as $module => $version) {
+      $form['version'][$module]['#value'] = system_modules_make_nice_versions($version['#value']);
+    }
       $form['#theme'] = 'system_modules_util_system_modules_form';
   }
 }
@@ -88,4 +91,22 @@ function theme_system_modules_util_syste
 
   $output .= drupal_render($form);
   return $output;
+}
+
+/**
+* Given a $Name: $ or non-existent version string, parse
+* it into something more legible.
+*/
+function system_modules_make_nice_versions($version) {
+  if (!$version) {
+    $version = t('Not found');
+  }
+  elseif (preg_match('/\$Name: (.*?)\$/', $version, $matches)) {
+    $version = trim($matches[1]);
+    if (!$version) {
+      $version = 'HEAD';
+    }
+  }
+
+  return $version;
 }
\ No newline at end of file