Upcoming Events Widget - Shortening the text that appears in sidebar

Hi there.

I have installed the calendar on the Buddypress pages (members, actitivities, groups) and the Upcoming Events on other pages.

The Upcoming Events text is VERY long...is there a way that only a summary of it could be all that shows. I have listed 3 events and they take up a LOT of space.

Could there be a word limit box added to the event so you could create a short version of the events...enough to get them to click on the link to read the whole event text.