Yes. Use Setup - Ballot Options - Oval/Box - Label Format and select Use Long Label. The name of that box is aweful, I have to agree. I'll rename it to "Endorsement Format" when I get a chance.
There is also pending RCR from Steve Knecht to also support entering rich text for the endorsement, just like canidate, races, and headers. This will give even more flexibility, including the ability to have multiline endorsement labels.