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See issue #64782. After that patch, the current locale's variant of Bundle.properties for a module will be used for display info about a module, if the variant is found under the source root; but edits to the Display panel are silently ignored (need to be made in text editor). Also, minor: adding a new locale variant does not take effect until after IDE restart.
Wasn't this targeted for me? Or is there some magic background I shouldn't close to? :) If not feel free to reassign.
You can take it if you want to, though it's my code (or at least my refactoring) originally. Should be straightforward to test in LocalizedBundleInfoTest.
Probably the Display panel should show and offer to edit only the English version. It is fine for the module's root node etc. to show the display name as taken from the IDE's current locale.