The descriptive/text part of the URL is being shortened so long URLs are not shown (some URLs can really be long). The actual URL in the HREF is not shortened -- it's preserved.
If you don't like the shortening, you can modify the ResolveLinks.cs file in the App_Code\Extensions folder. Change MAX_LENGTH from 50 to int.MaxValue.
The link being shortened is not the issue. The issue is that any link with URL encoding ends up being broken, i.e.:
ResolveLinks turns into:
Resolve Links breaks anytime there is a valid encoding in the URL that begins with '%'.