Looks to me like the preference for the project hierarchy separator got set to something crazy. Check the setting at the bottom of General Preferences; its default value is “ : ” (Space Colon Space) leading to hierarchical names like “Omni : Develop OmniFocus”, but in Gary's screenshot it looks like it somehow got set to “hlKP{":<>” (leading to “OmnihlKP{":<>Develop OmniFocus”).