The word is not correctly wrapped in the attached test case.
This happens when the icon is set, font is Sans Serif,14 bold, text elide mode is ElideNone, word wrap sets to true and the horizontal scroll bar is set to always off, a fixed width is set to the list widget.

Another strange problem in this test case is that the font used to draw the item text doesn't match the font property of the item. It seems that the font property is point size 10, but the text is drawn in point size 14.

tested against 453,462 and 47-depot