The launchers are stored to .gnome2/panel2.d/default/launchers. Do you get the same behaviour if you create the launcher on feisty?
-- [feisty] launcher with arguments in command don't display https://launchpad.net/bugs/84587 -- desktop-bugs mailing list desktop-bugs@lists.ubuntu.com https://lists.ubuntu.com/mailman/listinfo/desktop-bugs
