Steps to reproduce the issue

Create a menu item of type "List of all tags."
From the Options tab while defining this menu item set the "Maximum characters" (under description) to 200 (presumably any number).

Expected result

The tag description should be truncated at 200 characters according to the menu options above when selecting the menu item above for display.

Actual result

The full description is always displayed regardless of what value is used to truncate it.

System information (as much as possible)

Database Version 5.1.36-community-log
Database Collation utf8_general_ci
Database Connection Collation utf8_general_ci
PHP Version 5.3.13
Web Server Apache/2.2.11 (Win32) PHP/5.3.13
WebServer to PHP Interface apache2handler
Joomla! Version Joomla! 3.7.0 Stable [ Amani ] 25-April-2017 15:36 GMT
Joomla! Platform Version Joomla Platform 13.1.0 Stable [ Curiosity ] 24-Apr-2013 00:00 GMT
User Agent Mozilla/5.0 (Windows NT 5.1; rv:52.0) Gecko/20100101 Firefox/52.0

Additional comments

The Tags component is misidentifying the parameter string reference used to determine truncation. components/com_tags/views/tags/tmpl/default_items.php incorrectly uses the identifier "tag_list_item_maximum_characters" when it should be "all_tags_tag_maximum_characters."