diff --git a/README.md b/README.md
index f862223..3ce4a40 100644
--- a/README.md
+++ b/README.md
@@ -30,7 +30,7 @@ _You may need to update your Valet installation to keep everything working if a
 
 ## 🚀 How to install
 
-You can install via Homebrew, or may download the latest [release](https://github.com/nicoverbruggen/phpmon/releases).
+You can install via Homebrew (recommended), or may download the latest release on GitHub.
 
 To install via Homebrew, run:
 
diff --git a/phpmon/Domain/Core/Actions.swift b/phpmon/Domain/Core/Actions.swift
index e2edd93..cd43370 100644
--- a/phpmon/Domain/Core/Actions.swift
+++ b/phpmon/Domain/Core/Actions.swift
@@ -32,6 +32,27 @@ class Actions {
         return versionsOnly
     }
     
+    /**
+     This method extracts the PHP full version number after finding the php installation folders.
+     To be refactored at some later point, I'd like to cache the `PhpInstallation` objects instead of just the version number at some point.
+     */
+    public static func extractPhpLongVersions() -> [String: String]
+    {
+        var mappedVersions: [String: String] = [:]
+        App.shared.availablePhpVersions.forEach { version in
+            let phpConfigExecutablePath = "\(Paths.optPath)/php@\(version)/bin/php-config"
+            var longVersion = version
+            if Shell.fileExists(phpConfigExecutablePath) {
+                longVersion = Command.execute(
+                    path: phpConfigExecutablePath,
+                    arguments: ["--version"]
+                )
+            }
+            mappedVersions[version] = longVersion
+        }
+        return mappedVersions
+    }
+ 
     /**
      Extracts valid PHP versions from an array of strings.
      This array of strings is usually retrieved from `grep`.
diff --git a/phpmon/Domain/Core/App.swift b/phpmon/Domain/Core/App.swift
index 3a48958..e59b351 100644
--- a/phpmon/Domain/Core/App.swift
+++ b/phpmon/Domain/Core/App.swift
@@ -49,6 +49,11 @@ class App {
      */
     var availablePhpVersions : [String] = []
     
+    /**
+     Cached information about the PHP installations; contains only the full version number at this point.
+     */
+    var cachedPhpVersionNumbers : [String: String] = [:]
+    
     /**
      The timer that will periodically fetch the PHP version that is currently active.
      */
diff --git a/phpmon/Domain/Menu/MainMenu.swift b/phpmon/Domain/Menu/MainMenu.swift
index 5394c4b..e1e7c31 100644
--- a/phpmon/Domain/Menu/MainMenu.swift
+++ b/phpmon/Domain/Menu/MainMenu.swift
@@ -42,6 +42,7 @@ class MainMenu: NSObject, NSWindowDelegate, NSMenuDelegate {
      */
     private func onEnvironmentPass() {
         App.shared.availablePhpVersions = Actions.detectPhpVersions()
+        App.shared.cachedPhpVersionNumbers = Actions.extractPhpLongVersions()
         updatePhpVersionInStatusBar()
         
         let installation = App.phpInstall!
diff --git a/phpmon/Domain/Menu/StatusMenu.swift b/phpmon/Domain/Menu/StatusMenu.swift
index cebd9a0..b370228 100644
--- a/phpmon/Domain/Menu/StatusMenu.swift
+++ b/phpmon/Domain/Menu/StatusMenu.swift
@@ -42,15 +42,24 @@ class StatusMenu : NSMenu {
     private func addSwitchToPhpMenuItems() {
         var shortcutKey = 1
         for index in (0..<App.shared.availablePhpVersions.count).reversed() {
-            let version = App.shared.availablePhpVersions[index]
+            
+            // Get the short and long version
+            let shortVersion = App.shared.availablePhpVersions[index]
+            let longVersion = App.shared.cachedPhpVersionNumbers[shortVersion]!
+            
+            let long = Preferences.preferences[.fullPhpVersionDynamicIcon] as! Bool
+            let versionString = long ? longVersion : shortVersion
+            
             let action = #selector(MainMenu.switchToPhpVersion(sender:))
-            let brew = (version == App.shared.brewPhpVersion) ? "php" : "php@\(version)"
+            let brew = (shortVersion == App.shared.brewPhpVersion) ? "php" : "php@\(shortVersion)"
             let menuItem = PhpMenuItem(
-                title: "\("mi_php_switch".localized) \(version) (\(brew))",
-                action: (version == App.phpInstall?.version.short) ? nil : action, keyEquivalent: "\(shortcutKey)"
+                title: "\("mi_php_switch".localized) \(versionString) (\(brew))",
+                action: (shortVersion == App.phpInstall?.version.short) ? nil : action, keyEquivalent: "\(shortcutKey)"
             )
-            menuItem.version = version
+            
+            menuItem.version = shortVersion
             shortcutKey = shortcutKey + 1
+            
             self.addItem(menuItem)
         }
     }
diff --git a/phpmon/Domain/Preferences/PrefsVC.swift b/phpmon/Domain/Preferences/PrefsVC.swift
index 66ec9d0..da11b8a 100644
--- a/phpmon/Domain/Preferences/PrefsVC.swift
+++ b/phpmon/Domain/Preferences/PrefsVC.swift
@@ -123,6 +123,7 @@ class PrefsVC: NSViewController {
     @IBAction func toggledFullPhpVersion(_ sender: Any) {
         Preferences.update(.fullPhpVersionDynamicIcon, value: buttonDisplayFullPhpVersion.state == .on)
         MainMenu.shared.refreshIcon()
+        MainMenu.shared.update()
     }
     
     @IBAction func toggledAutoRestartServices(_ sender: Any) {