As an aside, someone just requested something for folder tabs that I think would be useful (for some people) here as well... namely: to be able to use a variable (OP suggested %D) to include the current folder name in user specified title.
...I could see myself using such a feature in BOTH lister titles and folder tab names. I'd even go one further and ask for a drive letter code as well... maybe %D for drive letter actually - and %F for the folder name. Just theorizing...