Note I have munged important data, but not altered the log or  info in any other way.

NVDA version main-5464

INFO - globalCommands.GlobalCommands.script_navigatorObject_devInfo (07:40:57):
Developer info for navigator object:
name: u'Eternal September server'
role: ROLE_LISTITEM
states: STATE_FOCUSABLE, STATE_SELECTABLE, STATE_FOCUSED, STATE_SELECTED
isFocusable: True
hasFocus: True
Python object: <NVDAObjects.IAccessible.sysListView32.ListItem object at 0x03D920F0>
Python class mro: (<class 'NVDAObjects.IAccessible.sysListView32.ListItem'>, <class 'NVDAObjects.behaviors.RowWithFakeNavigation'>, <class 'NVDAObjects.behaviors.RowWithoutCellObjects'>, <class 'NVDAObjects.IAccessible.sysListView32.ListItemWithoutColumnSupport'>, <class 'NVDAObjects.IAccessible.IAccessible'>, <class 'NVDAObjects.window.Window'>, <class 'NVDAObjects.NVDAObject'>, <class 'baseObject.ScriptableObject'>, <class 'baseObject.AutoPropertyObject'>, <type 'object'>)
description: None
location: (5, 91, 800, 17)
value: None
appModule: <'appModuleHandler' (appName u'pspv', process ID 3372) at address 3d345d0>
TextInfo: <class 'NVDAObjects.NVDAObjectTextInfo'>
windowHandle: 1246194
windowClassName: u'SysListView32'
windowControlID: 259
windowStyle: 1353713673
windowThreadID: 1560
windowText: u''
displayText: u'Eternal September server\x00Outlook Express\x00retina271\x00udooewvcs\x00Identification\\INET...\n'
IAccessibleObject: <POINTER(IAccessible) ptr=0x1a8268 at 1f008f0>
IAccessibleChildID: 1
IAccessible event parameters: windowHandle=1246194, objectID=-4, childID=1
IAccessible accName: u'Eternal September server'
IAccessible accRole: ROLE_SYSTEM_LISTITEM
IAccessible accState: STATE_SYSTEM_SELECTABLE, STATE_SYSTEM_SELECTED, STATE_SYSTEM_MULTISELECTABLE, STATE_SYSTEM_FOCUSED, STATE_SYSTEM_FOCUSABLE, STATE_SYSTEM_VALID (19922950)
IAccessible accDescription: u'Resource Type: Outlook Express, User Name/Value: retina271, Password: udooewvcs, Protected Storage Type: Identification\\INETCOMM Server Passwords'
IAccessible accValue: None

Log fragment.
IO - speech.speak (07:47:40):
Speaking [LangChangeCommand ('en_UK'), u'Description: Protected Storage PassView\nCompany: NirSoft\nFile Version: 1.6.3.0\nDate Created: 10/11/2008 18:00\nSize: 51.5 KB  tool tip']
IO - inputCore.InputManager.executeGesture (07:47:41):
Input: kb(desktop):enter
DEBUGWARNING - RPC process 3788 (pspv.exe) (07:47:41):
Thread 2452, nvdaHelper\build\x86\remote\ia2Support.cpp, installIA2Support, 81:
Error registering class object, code -2147221008

DEBUGWARNING - RPC process 3788 (pspv.exe) (07:47:41):
Thread 2452, nvdaHelper\build\x86\remote\ia2Support.cpp, installIA2Support, 81:
Error registering class object, code -2147221008

DEBUGWARNING - RPC process 3788 (pspv.exe) (07:47:41):
Thread 2452, nvdaHelper\build\x86\remote\ia2Support.cpp, installIA2Support, 81:
Error registering class object, code -2147221008

IO - speech.speak (07:47:41):
Speaking [LangChangeCommand ('en_UK'), u'Protected Storage PassView']
IO - speech.speak (07:47:41):
Speaking [LangChangeCommand ('en_UK'), u'list']
IO - inputCore.InputManager.executeGesture (07:47:47):
Input: kb(desktop):downArrow
DEBUGWARNING - RPC process 3788 (pspv.exe) (07:47:47):
Thread 2452, nvdaHelper\build\x86\remote\ia2Support.cpp, installIA2Support, 81:
Error registering class object, code -2147221008

IO - speech.speak (07:47:47):
Speaking [LangChangeCommand ('en_UK'), u'Eternal September server  1 of 31']
IO - inputCore.InputManager.executeGesture (07:47:50):
Input: kb(desktop):tab
IO - inputCore.InputManager.executeGesture (07:47:53):
Input: kb(desktop):downArrow
DEBUGWARNING - RPC process 3788 (pspv.exe) (07:47:53):
Thread 2452, nvdaHelper\build\x86\remote\ia2Support.cpp, installIA2Support, 81:
Error registering class object, code -2147221008

IO - speech.speak (07:47:53):
Speaking [LangChangeCommand ('en_UK'), u'Eternal September server  2 of 31']

===

NVDA version 2012.2.1

INFO - globalCommands.GlobalCommands.script_navigatorObject_devInfo (07:55:22):
Developer info for navigator object:
name: u'Eternal September server'
role: ROLE_LISTITEM
states: STATE_FOCUSABLE, STATE_SELECTABLE, STATE_FOCUSED, STATE_SELECTED
Python object: <NVDAObjects.IAccessible.sysListView32.ListItem object at 0x01E97190>
Python class mro: (<class 'NVDAObjects.IAccessible.sysListView32.ListItem'>, <class 'NVDAObjects.IAccessible.IAccessible'>, <class 'NVDAObjects.window.Window'>, <class 'NVDAObjects.NVDAObject'>, <class 'baseObject.ScriptableObject'>, <class 'baseObject.AutoPropertyObject'>, <type 'object'>)
description: None
location: (5, 91, 800, 17)
value: u'Resource Type: Outlook Express, User Name/Value: retina271, Password: udooewvcs, Protected Storage Typ' (truncated)
appModule: <'appModuleHandler' (appName u'pspv', process ID 624) at address 1e971b0>
TextInfo: <class 'NVDAObjects.NVDAObjectTextInfo'>
windowHandle: 852408
windowClassName: u'SysListView32'
windowControlID: 259
windowStyle: 1353713673
windowThreadID: 3632
windowText: u''
IAccessibleObject: <POINTER(IAccessible) ptr=0x1acd58 at 1d9eee0>
IAccessibleChildID: 1
IAccessible event parameters: windowHandle=852408, objectID=-4, childID=1
IAccessible accRole: ROLE_SYSTEM_LISTITEM
IAccessible accState: STATE_SYSTEM_SELECTABLE, STATE_SYSTEM_SELECTED, STATE_SYSTEM_MULTISELECTABLE, STATE_SYSTEM_FOCUSED, STATE_SYSTEM_FOCUSABLE, STATE_SYSTEM_VALID (19922950)

log fragment
IO - speech.speak (07:57:24):
Speaking [LangChangeCommand ('en_UK'), u'FolderView  list']
IO - speech.speak (07:57:24):
Speaking [LangChangeCommand ('en_UK'), u'pspv.exe  3 of 5']
IO - inputCore.InputManager.executeGesture (07:57:28):
Input: kb(desktop):enter
DEBUGWARNING - RPC process 1704 (pspv.exe) (07:57:28):
Thread 2396, nvdaHelper\build\x86\remote\ia2Support.cpp, installIA2Support, 81:
Error registering class object, code -2147221008

DEBUGWARNING - RPC process 1704 (pspv.exe) (07:57:28):
Thread 2396, nvdaHelper\build\x86\remote\ia2Support.cpp, installIA2Support, 81:
Error registering class object, code -2147221008

DEBUGWARNING - RPC process 1704 (pspv.exe) (07:57:28):
Thread 2396, nvdaHelper\build\x86\remote\ia2Support.cpp, installIA2Support, 81:
Error registering class object, code -2147221008

IO - speech.speak (07:57:29):
Speaking [LangChangeCommand ('en_UK'), u'Protected Storage PassView']
IO - speech.speak (07:57:29):
Speaking [LangChangeCommand ('en_UK'), u'list']
IO - inputCore.InputManager.executeGesture (07:57:34):
Input: kb(desktop):downArrow
DEBUGWARNING - RPC process 1704 (pspv.exe) (07:57:34):
Thread 2396, nvdaHelper\build\x86\remote\ia2Support.cpp, installIA2Support, 81:
Error registering class object, code -2147221008

IO - speech.speak (07:57:34):
Speaking [LangChangeCommand ('en_UK'), u'Eternal September server  Resource Type: Outlook Express, User Name/Value: retina271, Password: udooewvcs, Protected Storage Type: Identification\\INETCOMM Server Passwords  1 of 31']
IO - inputCore.InputManager.executeGesture (07:57:46):
Input: kb(desktop):downArrow
DEBUGWARNING - RPC process 1704 (pspv.exe) (07:57:46):
Thread 2396, nvdaHelper\build\x86\remote\ia2Support.cpp, installIA2Support, 81:
Error registering class object, code -2147221008

IO - speech.speak (07:57:46):
Speaking [LangChangeCommand ('en_UK'), u'Eternal September server  Resource Type: Outlook Express, User Name/Value: retina271, Password: udooewvcs, Protected Storage Type: Identification\\INETCOMM Server Passwords  2 of 31']

I think the problems started as with  other issues when the new list code was  merged, but this is now the only remaining difference I have found after the fixes.